Tower downgraded to a sell
24 October 2006
Merrill Lynch has downgraded trans-Tasman insurer Tower to a “sell” from “hold”, saying a demerger will reduce the earnings of Tower’s Australian operation…
Corporate
Suncorp’s bid may flush out competitors
17 October 2006
Brisbane-based Suncorp is keen to finalise its merger bid for Promina after it had to release the details early following a leak to the market last week…
… but who will lead?
17 October 2006
There’s plenty of speculation on how a merged Promina and Suncorp might look…
Renaissance has a renaissance
17 October 2006
NSW-based Renaissance Underwriting has been rebranded as Altiora Insurance Solutions, incorporating its recent merger with Aradlay Insurance Brokers…
Wesfarmers well on its way
10 October 2006
The Wesfarmers bid for full control of OAMPS is proceeding well…
Calliden takes stake in sports underwriter
10 October 2006
Sydney-based Calliden Group has taken a 50% stake in new niche agency Sports Underwriting Australia…
Medibank’s plan no big concern
10 October 2006
Government-owned health insurer Medibank Private’s thoughts on branching out into general and life insurance products shouldn’t overly concern the industry…
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…
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…