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…
Corporate
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…
Promina spreads its wings
07 December 2004
Vero Insurance has acquired Marsh subsidiary Aviation Office of Australia…
AJG acquires FPE
07 December 2004
International broking network Arthur J Gallagher & Co has acquired Sydney-based FPE Insurance Brokers…
TIO posts record profit
07 December 2004
Australia’s last state insurer, the Darwin-based Territory Insurance Office, has announced a record profit of $24.9 million before tax for 2003/04…
Tower spin-off gets thumbs up
07 December 2004
The spin-off of Tower’s Australian Wealth Management business is in the best interests of shareholders, according to an independent report by corporate advisory firm…
IAG aims for sustainability
16 November 2004
IAG is on track to achieve key targets for the full year, according to Chairman James Strong…
Peaky or profitable?
16 November 2004
Insurers can still make more money at the peak of the cycle, but not by increasing premiums or cutting corners, according to Suncorp CEO John Mulcahy…