IAG times Indian venture nicely
10 November 2008
IAG appears to have timed its run into India’s insurance market nicely following recent agreement by Indian cabinet ministers to lift maximum foreign direct investment limits…
Corporate
IAG grabs top UK executive to head direct division
03 November 2008
After several years of confusion at the top of its direct insurance division, IAG has appointed an experienced manager from the UK direct insurance market to make it perform...
Mansions team moves to SRS
03 November 2008
SRS Insurance has hired three former key managers from Calliden’s Mansions of Australia underwriting agency to manage a new prestige home product...
… as Kiln renews Mansions cover
03 November 2008
Calliden has confirmed that Lloyd’s syndicate RJ Kiln will continue to be the lead Lloyd’s underwriter for Mansions of Australia as the company moves to reposition the prestige…
Vero reshapes home warranty division
03 November 2008
Vero is scaling back its home warranty insurance operations, citing record low levels of investment in residential construction...
PMI Australia becomes QBE Lenders’ Mortgage Insurance
03 November 2008
PMI Australia has changed its name to QBE Lenders’ Mortgage Insurance Ltd after QBE won regulator approval to take over the former US mortgage insurer...
Still no appetite for terrorism risk
03 November 2008
Australian Reinsurance Pool Corporation CEO Neil Weeks says the statutory terrorism reinsurance scheme will be required to operate for at least another three years...
Suncorp execs face shareholder heat
03 November 2008
Suncorp is actively looking for a buyer for its bank and wealth management operations as it seeks ways to settle down its troubled accounts...
Futuris insurance division still going strong
03 November 2008
Rural service and insurance company Elders is performing well despite financial market volatility, according to parent company Futuris...
AIG Australia renewals weather the storm
27 October 2008
Most clients appear to have stuck by AIG Australia despite the recent financial turmoil of its US parent, with the insurer recording a 93% retention rate during October...
Calliden transfers its insurance business into one
27 October 2008
Calliden will consolidate all its insurance business under one licence from November 19...
QBE wraps up PMI deal
27 October 2008
QBE has completed its acquisition of PMI Australia for $US920 million ($1.4 billion) after receiving regulatory approval...
Lumley General Insurance drops the ‘insurance’
27 October 2008
Lumley General Insurance will now be known simply as Lumley General after completing a process to operate under a single licence...
Pacific avoids axe as GE chops businesses
27 October 2008
GE Money’s decision to cut 335 jobs in Australia and New Zealand will have no effect on its premium funding business, Pacific Premium Funding...
Suncorp shelves bank sale – for now
20 October 2008
Suncorp has shown the door to competitors interested in its bank and wealth management division, because it’s confident it will be able to get a higher price for the assets…
Credit crunch a mixed bag for IAG
20 October 2008
IAG expects to cash in on the global credit crunch as consumers turn to brands they trust, but admits economic conditions are not ideal for the planned sell-off of its UK operations...
Zurich aims to lead the fight against heart disease
20 October 2008
Zurich Financial Services Australia has called for an improvement to the nation’s heart health after releasing a survey showing 50% of Australians are overweight and many of them…
MLC locks in rates
20 October 2008
Financial services giant MLC is offering five-year fixed rate insurance cover on life and total disability premiums in a bid to win over new customers...
Wesfarmers outlines its insurance plans
20 October 2008
Wesfarmers Insurance is moving to a single licensed entity for its Australian businesses, but it doesn’t mean Lumley and Wesfarmers Federation Insurance are being merged...
Gallagher’s buys stake in WA brokerage
13 October 2008
Global brokerage Arthur J Gallagher has acquired a 40% stake in WA broker Specialised Broking Associates...