MLC sweeps up Hong Kong interests
12 July 2005
Life insurer MLC has purchased the remaining interests in its Hong Kong subsidiary, HKMLC Holdings, for $148 million…
Corporate
One big family: IAG searches for a Melbourne home
12 July 2005
IAG is moving to bring its various operations in Melbourne under one roof, with a brief understood to have been put to the city’s real estate market…
Horsell International launches financial services capability
12 July 2005
Sydney broker Horsell International has increased its financial services offerings to clients through a strategic alliance with Inpro Australia…
QBE merges European non-Lloyd’s businesses
05 July 2005
QBE Insurance Group’s European arm, QBE European Operations, has merged its non-Lloyd’s operations – its European commercial and retail divisions…
Strong result buoys FMG
28 June 2005
New Zealand-based agricultural insurer FMG has posted a profit before tax of $NZ20 million for the year to March 31 – a good rise on the previous year’s $NZ12.6 million…
Tower’s not leaning
21 June 2005
Just 18 months after being on the brink of a financial precipice, trans-Tasman insurer Tower has announced a healthy profit result for the six months to March 31…
CSR to sue insurers
21 June 2005
Sugar and building products company CSR is predicting steady future profits, and with trials against some 60 Australian, US and European insurers pending…
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…
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…