Promina reports strong results
22 February 2005
Promina has announced a $458 million net profit for 2004, a 53.7% improvement on 2003…
Corporate
Improved figures for Axa Asia Pacific
22 February 2005
Axa Asia Pacific Holdings has announced an after-tax profit of $547.2 million for the year to last December…
IAG dispels China rumours
22 February 2005
As the highest-profile insurer in Australia, IAG’s expansion plans are always expected to produce more hopeful headlines than facts…
Zurich Life isn’t for sale, either
22 February 2005
Zurich Financial Services Australia has also had to brush off media speculation…
Aussie Unity snaps up Grand United
22 February 2005
Mutuals Grand United Friendly Society and Australian Unity have been given the green light by the Victorian Supreme Court to merge as a new entity on March 1…
Elders acquires WA brokerages from OAMPS
22 February 2005
OAMPS and Elders Insurance have been engaging in a bit of strategic buying and selling, with OAMPS shedding its broking operations in Albany, WA…
Insurance result keeps Wesfarmers buoyant
15 February 2005
Insurers are facing growing community unease at the unprecedented high profits they are achieving, so stand by for plenty of bombast from commentators over the next few weeks…
CBA insurance down as profits surge
15 February 2005
While the mainstream insurers are reaping healthy profits, the Commonwealth Bank’s insurance arm is being branded a bit of a disappointment…
IAG reorganises structure
15 February 2005
IAG is close to completing a reorganisation aimed at cutting the number of authorised insurers it operates and cleaning up some business operations…
HHG sells life insurance business
15 February 2005
Former AMP-owned HHG has sold its life insurance business to UK-based Life Company Investor Group (LCIG) for around $2.5 billion…
Bancassurance meets mixed success
08 February 2005
Bancassurance, the combination of banking and insurance, seems to be working well for Australia’s third-largest insurer, but the model has been all but abandoned by US financial giant…
Merger activity played down
08 February 2005
The insurance industry is enjoying healthy profits and a low claims environment, and analysts are now backing away from speculation about mergers and acquisitions – for now at least…
Horsell in commercial push
08 February 2005
NSW-based Horsell International has acquired brokerage Fordyce Wells Reeve, acquiring $75 million in business as it pushes into the commercial market…
New Tower group MD caught up in restructure
08 February 2005
New Tower group MD Jim Minto is returning to NZ for a board meeting on Thursday where a discussion will be held on restructuring the senior management team…
Venning becomes regional Ace chief
08 February 2005
Paul Venning has joined Ace Insurance in Sydney as CEO for Australia and New Zealand…
Goodbye ReAC, hello Calliden
01 February 2005
Five years after losing $480 million, Reinsurance Australia Corporation is about to re-invent itself…
Dexta takes MB Insurance
01 February 2005
In an expansion of its specialist product range Dexta Corporation has acquired national underwriting agency MB Insurance Group…
Wrightson teams up with Aon NZ
14 December 2004
New Zealand rural company Wrightson has sold its insurance broking operations to Aon New Zealand for $NZ25 million…
Swiss Re operations revamped
14 December 2004
The Australian and New Zealand property and casualty reinsurance and insurance liabilities of Swiss Re will now be handled by its Australian branch…
CGU cuts public liability premiums
07 December 2004
The predicted flow-on effects of tort reform have allowed CGU to cut commercial public liability rates by 10% in NSW, Queensland, SA, the NT and the ACT…