Suncorp expects $325 million in synergies
04 February 2008
Suncorp has improved its forecast merger savings but downgraded its insurance trading ratio due to increased weather-related claims…
Corporate
AMP unties Gordian
04 February 2008
AMP has offloaded its closed reinsurance and general insurance operation Cobalt/Gordian to Bermuda-based closed book specialist Enstar Group for $585 million…
QBE expands in US
04 February 2008
QBE has acquired US property and casualty insurer North Pointe Holdings Corporation in a $US146 million ($164 million) acquisition, subject to regulatory and shareholder approval…
Austbrokers adds Qld broker
04 February 2008
Austbrokers' expansion continued apace with a 50% purchase of Queensland-based Rivers Insurance Brokers…
Calliden enters events Arena
04 February 2008
Calliden and Action Insurance Brokers have taken a 50% shareholding in a new underwriting agency…
Gallagher Bassett opens across Tasman
04 February 2008
Claims administrator Gallagher Bassett has set up in NZ by acquiring the assets of Auckland-based Injury Prevention Management Services for an undisclosed sum…
Alliance adds Overton clients
04 February 2008
Alliance Insurance Broking Services has acquired the client base of fellow Melbourne firm Overton Insurance Brokers…
Hollard makes life play
04 February 2008
Hollard Australia has acquired 50% of a life insurance administrator as part of its drive towards a direct licence…
Calliden consolidates licences
11 December 2007
Calliden’s consolidation of its general insurance licences remains on track with the announcement that the Australian Prudential Regulation Authority has revoked…
IAG receives analyst boost
11 December 2007
Credit Suisse has upgraded IAG’s stock, citing potential in Australian personal lines and its UK motor acquisitions…
Wesfarmers builds NZ base
04 December 2007
Wesfarmers Insurance Division has added to its New Zealand presence with the acquisition of Auckland-based film and television production broker Mahony, Trendall & Jack…
Zurich NZ revs up commercial motor
04 December 2007
Zurich NZ has established a commercial motor insurance business in the country, and intends to head the market in five years…
IAG defends $24 million UK motor claim
04 December 2007
IAG is vigorously defending a $24 million claim for loss and damages brought against UK motor subsidiary Hastings by a former panel insurer for alleged breaches of its duties…
Tower Australia flourishes after split
04 December 2007
Listed life insurer Tower Australia Group has delivered a 29% improvement in net profit to $40.7 million for the year to September 30…
Consolidation to fire future growth
27 November 2007
Austbrokers is pinning its growth prospects on industry consolidation as the soft market forces brokers to embrace greater economies of scale…
Axa unveils five-year plan
27 November 2007
Axa Asia Pacific Holdings is aiming to double the enterprise value of its Australia and New Zealand business over the next five years…
IAG shareholders targeted
27 November 2007
IAG is again fending off stock market predators after another unsolicited bid significantly undervalued the company’s share price…
IAG weathers stormy AGM
20 November 2007
IAG CEO Michael Hawker has stood firm on rates and received the backing of his chairman at last week's AGM…
OAMPS picks up another broker
20 November 2007
OAMPS Insurance Brokers has added to its local presence with the acquisition of Queensland commercial hospitality specialist MIB Insurance Brokers…
More underwriting pain for Wesfarmers
20 November 2007
Wesfarmers Insurance Division continues to be affected by the soft market and increased claims…