XL gets word on new products
11 September 2007
Bermuda-based insurer XL Insurance is ramping up its Australian operations in the construction, marine and products sectors under a global extension of its lines…
Corporate
Wesfarmers offloads liability specialist
11 September 2007
Wesfarmers has sold Connect Liability Solutions to its founders Kevin Corkery and Glenn Eason for an undisclosed amount…
Buys lift growth for Austbrokers
04 September 2007
Falling premiums and fierce competition have not stopped Austbrokers from booking a 15% increase in adjusted net profit to $13.24 million in its first full year as a listed entity…
Claims blowout hits FMG bottom line
04 September 2007
Claims resulting from bad weather have almost halved the profit of NZ rural insurer Farmers’ Mutual Group…
Suncorp boosted by Promina profit
28 August 2007
Newly acquired Promina group has given Suncorp’s lagging insurance portfolio a shot in the arm as the bancassurer’s emboldened insurance wing helped take total profit…
Storm claims rattle IAG
28 August 2007
Storm losses may have dealt a $200 million blow to IAG’s profit, but deeper problems with international and domestic personal lines continue to plague the group…
AMP rises on investment returns
28 August 2007
An earnings lift in AMP’s wealth management arm has taken the banking group to a 27% rise in first-half profit to $543 million…
Storms wash away profit for Calliden
28 August 2007
Calliden’s first profit result since floating on the ASX has been sunk after weather-related claims from the Newcastle storms wiped $750,000 from the company’s balance sheet…
QBE in first-half flourish
21 August 2007
QBE has stunned the market with an unheralded 56% leap in half-year net profit helped along by benign claims, strong investment returns and the integration of US acquisitions…
…and does deal with Elders, FPUA
21 August 2007
Australian insurance companies might be a bit too expensive for QBE Australia right now, but it’s still expanding its business opportunities with new acquisitions and deals…
Insurance profit falls at CommBank
21 August 2007
Commonwealth Bank’s general insurance division has taken a hit from the NSW floods, posting a flat earnings period for the full year to June 30…
Bitter harvest for Wesfarmers
21 August 2007
Rising coal and insurance costs have combined to take a chunk of the full-year earnings of Wesfarmers, with the diversified conglomerate posting a drastic 25% drop in net profit…
CGU opts out of premium funding
21 August 2007
Pacific Premium Funding has solidified its status among Australia’s top-tier premium lenders by adding CGU’s premium funding business to its burgeoning portfolio…
Austbrokers book reads $1 billion
21 August 2007
Austbrokers has nudged its premium book above $1 billion through the acquisition of national group Strathearn Insurance Brokers…
India front-runner in final three
21 August 2007
IAG’s quest for an international stake in the rapidly expanding Asian insurance market could be set to materialise…
Willis joins hands across the Tasman
21 August 2007
Willis Australia MD Gary Seymour will leave the company at the end of the year following a reorganisation of its Australian and NZ operations to create a single Australasian operation…
New entrant setting up reinsurance operation
14 August 2007
A new player in the Australian reinsurance market is set to open its doors as soon as it can get regulatory approval…
QBE buys Universal
14 August 2007
OAMPS has sold its wholly owned subsidiary Universal Underwriting Agencies to QBE…
Axa on target
14 August 2007
Axa Asia Pacific is on track to achieve its “Axa 6” goals, with a 23% increase in after-tax profit for the first half of this year…
Aviva up 21%
14 August 2007
Financial services company Aviva Australia has improved its first-half earnings by 21% to £23 million ($46.48 million) from the corresponding period last year…