ReAC set to try again
01 June 2004
Reinsurance Australia Corporation – the last of the local reinsurers swept out the door by the industry shake-up of the late 1990s – plans to seek a new licence…
Corporate
NAB keeps its local insurance arm
01 June 2004
The National Australia Bank won’t be outsourcing its Australian commercial insurance operations, despite plans to do just that in the UK…
QBE secures its spot in the Asian market
25 May 2004
QBE CEO Frank O’Halloran has spent much of this year hinting at plans to gain a bigger foothold in the Asian general insurance market…
NAB seals UK insurance deal with Axa
25 May 2004
The National Australia Bank is forming an alliance with Axa in the UK to provide commercial insurance products and financial services to customers of its three British banks…
ING sells to QBE
18 May 2004
Funds management giant ING is selling its half share in QBE Mercantile Mutual as well as Mercantile Mutual Insurance to QBE…
OAMPS alleges media beat-up over NAB bid
11 May 2004
National broking network OAMPS has confirmed it has been hit with a discovery motion from National Australia Bank for more than $63 million…
Wesfarmers praises its new insurance business
11 May 2004
Perth-based conglomerate Wesfarmers has never said much about its insurance assets, which have always performed creditably…
Dexta’s trade credit overtaken by Coface
11 May 2004
A desired increase in Australian market share is at the root of an agreement between insurance underwriting agency Dexta Corporation and Coface to transfer…
NZ insurer acquires Lumley Life’s NZ operations
11 May 2004
New Zealand’s only locally owned insurer, Fidelity Life, has acquired the well-established Australian Lumley Life operation in NZ…
Aviva’s Asian assets on the table for Oz insurers
04 May 2004
London-based insurer Aviva is planning to sell some of its businesses in Asia, with QBE and IAG tipped by analysts to be among the likely bidders…
IAG announces $350 million share buy-back
04 May 2004
IAG is continuing its bid to boost the value of its shares with a $350 million off-market buy-back tender for about $350 million worth of shares…
$300 million in shares for Promina
04 May 2004
Promina yesterday allotted 3 million reset preference shares on the ASX on a deferred settlement basis…
Sirius costs for IAG NZ’s new IT system
04 May 2004
British IT company Sirius marked its entry into the Australasian insurance market in March with the appointment of former Lumley Technology CEO Stephen Browne as its Regional Manager…
Promina profits from reforms
27 April 2004
Legislative reforms like the FSRA and changes to tort laws will help to maintain a positive and stabilising effect on the local insurance industry, according to Promina MD Mike Wilkins…
New insurance company for NSW lawyers
27 April 2004
LawCover, which insures lawyers in NSW, is the first of the state schemes to be awarded its own licence by APRA…
Marsh introduces new claims administration features
27 April 2004
International broking firm Marsh has introduced new claims administration features for its Stars software in a bid to address the needs of third-party administrators…
Vero launches revamped broker system
27 April 2004
Promina’s general insurance subsidiary Vero has launched Enterprise Plus – a revamp of its Enterprise broker system – which focuses on the increasingly complex risks…
St Andrews to take advantage of UK bancassurance model
27 April 2004
Perth-based financial services provider St Andrew’s Australia has agreed to merge the management and insurance operations of BankWest into its own…
Hawker has eyes on Asia
20 April 2004
IAG CEO Michael Hawker has admitted the insurer will be making an acquisition in Asia by the end of next year…
Buoyant Promina stays cautious
20 April 2004
It’s official – Promina Group is still riding high and expects to meet its profit forecasts…