Suncorp confident of forecast
15 June 2005
Suncorp has stood by its previous forecast for a “substantial” increase in profit for this financial year from $784 million last year, and expects to outperform the market…
Corporate
IAG acquires Thai insurer
15 June 2005
IAG has firmed its foothold in Thailand with the acquisition of a second Thai general insurer, Royal & SunAlliance…
Horsell International on acquisition trail
15 June 2005
Sydney-based Horsell International has announced it will acquire Beacon & Move Insurance Brokers and Consultants as it makes further inroads into the commercial/SME segment…
Gold Seal expands
15 June 2005
Sydney-based Gold Seal Risk Management Services expanded its services to the United States…
New insurer posts strong profit
07 June 2005
Following its first year under new ownership and management, specialist general insurer Assetinsure has announced a profit of $11.9 million after tax for last year…
Tower gets thumbs up
07 June 2005
AM Best has affirmed the financial rating of A- for Tower Insurance and the issuer credit rating of BBB-…
Tower recovers with bumper profit
24 May 2005
Trans-Tasman life insurer Tower has recorded a 30% increase in net profit after improved business in Australia alleviated some financial burdens from its operational problems…
Zurich Australia delays accounts
24 May 2005
Global financial services group Zurich has reported a 21% leap in net income in the first quarter of this year…
IAG cuts SGIC costs… and staff
24 May 2005
IAG is cutting costs by closing down its SGIC call centre in Adelaide and integrating their operations into IAG offices…
AMP Chairman retires
24 May 2005
AMP Chairman Peter Willcox has announced he will retire from the board of the financial services group…
Growth a challenge for the industry, says Wesfarmers
17 May 2005
Perth conglomerate Wesfarmers is finding it harder to achieve premium growth in its insurance division as the industry becomes more competitive…
GAB Robins denies sale rumours
17 May 2005
GAB Robins Australia has denied market rumours that its parent company is in talks to sell its operations outside the US for up to $244 million…
Austbrokers on acquisition trail
17 May 2005
The Austbrokers Group has formed an equity partnership with Sydney-based brokerage Salisbury Payne Tinslay, a former member of fellow cluster IBNA…
Three share NSW Govt workers’ comp
17 May 2005
GIO has lost its 15-year monopoly on managing workers’ comp claims for the NSW Government Treasury Managed Fund…
Re-release of Zurich online processing tool
10 May 2005
Zurich Australia has released an enhanced version of its web-based delivery system Z.stream, with improvements based on broker research…
FMG moves 36% of staff to Wellington
10 May 2005
NZ farmers’ insurer FMG is moving its corporate office to Wellington because of recruitment problems in the small provincial city of Palmerston North…
QBE’s Jones moves up in major reshuffle
03 May 2005
QBE has reshuffled its senior management, with its Australian Operations MD Raymond Jones moving to Group GM Business Development…
Staff and business exodus at Marsh
03 May 2005
Marsh in Australia has lost a “significant” number of key staff – and business – in recent months. It appears that mega-rival Aon is the chief beneficiary of the moves…
Vero gives up on SA, NSW workers’ comp
03 May 2005
Up to 150 jobs may be cut at Vero Insurance following its decision to exit the NSW and SA workers’ compensation schemes…
Suncorp sells marine portfolio to Vero
19 April 2005
Vero Insurance has entered into an exclusive agreement with Suncorp to take over its intermediated commercial marine insurance business…