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Corporate

OAMPS buys major broker

26 October 2004

National broking network OAMPS has snapped up ZIB Group Holdings, boosting its share of small and medium enterprise and specialty markets…

Axa backs away from buyout plan

26 October 2004

French insurance giant Axa SA has backed away from its proposal to acquire the remaining 48.3% of shares in Axa Asia Pacific Holdings after talks with the local board broke down…

CGU wins round one

26 October 2004

CGU Insurance won round one of the legal battle on who should foot the bill for compensation paid to investors affected by crook advisers…

Managers join in new Dexta structure

19 October 2004

Private equity manager Ironbridge Capital has taken a majority stake in underwriting agency Dexta Corporation in partnership with the company’s management…

Aon sells Cambridge stake

19 October 2004

Singapore-based Scandent Group has bought a majority stake in former Aon-owned claims administration business Cambridge Integrated Services Group…

QBE staying put, says CFO

12 October 2004

QBE Insurance won’t be following James Hardie Industries and News Limited in basing its operations outside Australia…

Merger buzz falls flat

12 October 2004

Fairfax – which publishes BRW as well as the Sydney Morning Herald and The Age – has had a bit of a thing about QBE recently…

Gold Seal moves on US

12 October 2004

Queensland-based Gold Seal Risk Management has teamed up with US program underwriting group Lighthouse Companies to offer agents and brokers new professional liability coverage…

QBE not swept up in hurricane

05 October 2004

QBE CEO Frank O’Halloran has assured investors that the four hurricanes which hit the US east coast over the past few weeks will not affect the group’s profit…

Tower will need to build

05 October 2004

Tower Chairman Olaf O’Duill says that once the company has completed the spin-off of its Australian wealth management arm the New Zealand business will need to grow…

Safety award for AAMI

05 October 2004

AAMI has won an Australian Safer Communities Award for its work with the Victorian State Emergency Service…

NIBA prepares to head west

05 October 2004

The insurance industry is preparing to head to Perth in the next couple of weeks for Australia’s premier insurance event – the NIBA Convention…

NTI joins Sunrise Exchange

28 September 2004

Australia’s largest truck insurer, National Transport Insurance, is joining Sunrise Exchange, with its products available through the platform from January…

Tower merges NZ divisions with one chief

28 September 2004

Insurance and wealth management group Tower New Zealand is set to combine its insurance and operations and its investment businesses and replace divisional heads with one CEO…

QBE issues convertible securities

28 September 2004

QBE Insurance Group has issued 20-year zero coupon senior convertible securities to institutional investors, raising $530 million net after expenses…

Vero revamps website

28 September 2004

Vero has launched a new-look website, which it says is based on feedback from brokers about what they need from a website and features that would make their jobs easier…

Austbrokers in acquisition mode

28 September 2004

Sydney-based Robert Williams & Associates has been taken over by John Hallman with assistance from Austbrokers…

Coles Myer looks to insurance

28 September 2004

After announcing last week a net profit of $576.5 million for the year to July 25 – and hailing the success of its petrol retailing scheme, Coles Myer is getting into insurance…