IAG goes to the UK
03 October 2006
No 1 local insurer IAG has added another notch to its takeover belt with the $350 million acquisitions of British motor insurance broker Hastings Insurance Services…
Corporate
Austbrokers purchases trade credit broker
03 October 2006
Austbrokers has gained another brokerage, purchasing a 50% stake in Ferdi Nel Insurance Brokers of Chatswood…
Zurich pulls out of super
03 October 2006
Zurich Australia has put its corporate superannuation businesses on the market as it moves to focus on its core business model…
OAMPS backs Wesfarmers bid
26 September 2006
OAMPS has taken the next step in its proposed sale to Perth-based conglomerate Wesfarmers, last week recommending its shareholders take up the insurer’s offer…
Suncorp the target most likely
26 September 2006
The global financial services industry is expecting another period of consolidation and, according to Suncorp CFO Chris Skilton, Australia will not be immune…
Tower’s profitable break-up
26 September 2006
Trans Tasman insurer Tower says its proposed demerger – which will separate the NZ and Australian operations – will result in higher profits…
Whitbread buys brokerages
26 September 2006
Whitbread Insurance Brokers has acquired Alan Quantrell Insurance Brokers in Melbourne and Eastwood Insurance Brokers in Sydney…
Australian Unity posts strong result
19 September 2006
Financial services group Australian Unity’s general insurance group recorded a before-tax profit of $4.29 million for the year to June 30…
Vero wins risk management award
19 September 2006
Promina subsidiary Vero Insurance has been recognised for its risk management practices at this year’s Australian Risk Management Awards…
Allianz exec takes Government job
19 September 2006
The Victorian Managed Insurance Authority – operator of the State Government’s captive insurer and risk management agency – has appointed an Allianz executive as its new CEO…
Still room for growth, says Terblanche
12 September 2006
Local insurers can achieve growth in today’s competitive market, but they will have to look further than organic growth, according to KPMG’s Chair of Financial Services…
OAMPS will grow with us, says Wesfarmers
12 September 2006
The $700 million Wesfarmers bid for OAMPS is a “deliberate and purposeful” entry into the broker market, says Bob Buckley, MD of the Perth-based conglomerate’s insurance division…
WA lawyers team up with Phillips Fox
12 September 2006
Leading insurance law firm Phillips fox has announced a merger with the Perth partnership of national firm Gadens Lawyers…
Austbrokers push pays off
05 September 2006
The rapid growth strategy at Austbrokers is paying dividends, with the broking network reporting an $18.1 million profit for the 2006 financial year…
Insurance bolsters Suncorp result
05 September 2006
Suncorp has recorded a record profit of $1.04 billion, and its insurance division was the main contributor…
IBNA continues Austbrokers talks
05 September 2006
Discussions through a heads of agreement are continuing between cluster groups IBNA and Austbrokers, but the final model is expected to be different from the original version…
Promina’s six-month profits fall 5.7%
29 August 2006
Promina Group’s first-half profit fell 5.7% and net income fell to $216 million, compared to the $229 million achieved in the corresponding period last year…
OAMPS celebrates a $42 million year
29 August 2006
OAMPS Group has announced a record profit for the 2005/06 financial year. The $42.1 million result was in line with previously announced company expectations…
Rates and Larry hurt IAG
29 August 2006
Soft market conditions, fierce competition and a bigger than expected $150 million claims bill from Cyclone Larry have taken its toll on top insurer Insurance Australia Group…
Calliden reveals results and an acquisition
29 August 2006
Sydney-based Calliden Group has reported a net loss of $1.1 million for the six months to June, compared with a loss of $2.6 million for the previous corresponding period…