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…
Corporate
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…
CGU focuses on specialities
29 August 2006
CGU has changed its business structure to include a special markets division, a complex risks team and an innovation team in a bid to differentiate itself in today’s…
New CEO for Tower NZ
29 August 2006
Three weeks after announcing plans to separate its New Zealand and Australian businesses, Tower has named the CEO of its NZ operations…
Sportscover launches new syndicate
22 August 2006
Sports underwriting agency Sportscover has launched a Lloyd’s syndicate in a bid to offer specialised insurance solutions to the amateur sporting sector…
QBE profit rises 20%
22 August 2006
QBE Insurance Group has recorded an increase in operating profit of 20% for the six months to June 30, reflecting the benefit of premium growth through acquisitions made last year…
US farm sector beckons
22 August 2006
QBE is letting its international divisions do the buying, with its American arm taking on a smaller agri-insurer’s renewal rights this week…
Wesfarmers shows its strength
22 August 2006
Perth-based Wesfarmers Insurance has achieved operating revenue of $1.12 billion and earnings before interest and tax of $124.8 million for the 2005/06 financial year…
Penn promoted to head Axa Asia Pacific
22 August 2006
Axa Asia Pacific Holdings has promoted the current CEO of Axa Australia and NZ Andy Penn to the role of Group CEO, starting in October…
NTI heads across the Tasman
22 August 2006
Australia’s largest truck insurer, National Transport Insurance, opened its first NZ office in Auckland last week…
OAMPS buys Ballarat brokerage
15 August 2006
OAMPS has continued on its acquiring way, completing its eighth transaction since March…
Austbrokers takes up Shield
15 August 2006
Austbrokers has acquired Shield Underwriting Holdings for an initial payment of $3.62 million – representing 60% of the estimated purchase price based on Shield’s future performance…
FMG posts strong result
15 August 2006
Rural NZ insurance firm FMG has reported a net profit of $NZ17.57 million ($14.59 million) for the year to March, up from $NZ13.82 million ($11.48 million) in 2004/05…
UK job cuts won’t affect Zurich Australia
15 August 2006
700 jobs are under threat at Zurich’s UK business, but the Australian operation of the financial giant says the development has no implications here…
CommInsure bolsters CBA profit
15 August 2006
Commonwealth Bank of Australia achieved a net profit after tax of $3.928 billion for the 12 months to 30 June – an increase of 16% on last year – with its insurance division…