Aon takes Comcover off Marsh
08 March 2005
Aon Australia has picked up another large contract off arch-rival Marsh, signing a three-year deal to provide Comcover with insurance and risk management services…
Corporate
ReAC’s renaissance
01 March 2005
Shareholders of one of the last local reinsurers swept away by the industry shake-up of the late 1990s – Reinsurance Australia Corporation – have voted to change…
43% profit increase for QBE
01 March 2005
QBE Insurance has recorded a record operating net profit of $820 million – a massive jump of 43% on the corresponding period – for the year ended December 31…
IAG buff and looking for more muscle
01 March 2005
IAG’s strong net profit of $446 million for the six months to December 31 was bolstered by robust trading conditions and record levels of investment income…
Suncorp thrives in tough market
01 March 2005
Suncorp has reported a 47% increase in net profit to $413 million for the six months to December, although there are signs the good times are unlikely to last…
OAMPS posts record profits
01 March 2005
OAMPS Group has reported a record net profit after tax of $11.9 million for the six months to 31 December – an increase of 22.7% over the corresponding period in 2003…
The fall and rise of AMP
22 February 2005
Last year AMP seemed such a mess that no one really wanted to talk about takeovers…
Promina reports strong results
22 February 2005
Promina has announced a $458 million net profit for 2004, a 53.7% improvement on 2003…
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…