Swiss Re Australia’s rating lowered
05 August 2003
The global equities downturn and continuing capital shortages are being felt at the top end of the industry, with local reinsurer Swiss Re Australia copping a ratings downgrade…
Corporate
IBNA admits more funders
29 July 2003
Perth-based Alliance Finance no longer has exclusive access to the members of cluster group IBNA…
QBE top at Lloyd’s
29 July 2003
QBE has increased its underwriting at Lloyd’s by 25% to become the largest underwriter in the market…
QBE wants to buy smaller local insurers
22 July 2003
QBE has its eye on the local regional market to buy small general insurance businesses, and may already be engaged in purchase negotiations, according to a report from New York…
Investors return to QBE
08 July 2003
QBE Insurance shares peaked at their highest level since September 11 2001 last week, with analysts saying investor confidence in the group has been restored…
Clock ticks for Tower
08 July 2003
After a hectic week of shareholder meetings, an attempted high court injunction and a lot of board meetings, troubled Trans-Tasman life insurer Tower has decided shareholder…
Suncorp: we’re not splitting
01 July 2003
Suncorp Metway’s new MD John Malcahy says the group’s banking and insurance businesses won’t be split despite analysts’ predictions that they would…
Tower ponders limited options
01 July 2003
Troubled Kiwi life insurer Tower is providing shareholders with some sleepless nights as they ponder two conflicting proposals to recapitalise the distressed insurer…
MBF chief has eyes for his old firm
17 June 2003
Private health insurer MBF plans to expand into personal investment and further consolidate Australia’s 42 health funds…
QBE raises $376 million in US market
17 June 2003
QBE has raised $US250 million with the successful issue of subordinated notes in the US market…
IAG steps on the brakes
10 June 2003
Insurance Australia Group CEO Michael Hawker has called a halt to Australian acquisitions for a while…
AMP gives undertakings on demerger
10 June 2003
Discussions yesterday morning with AMP Chairman Peter Willcox and CEO Andrew Mohl on AMP’s current offer to shareholders have reassured ASIC Chairman David Knott…
Lumley faces a rating drop
10 June 2003
Standard & Poor’s has placed the Lumley Group’s ratings on CreditWatch Negative following the announcement of its proposed acquisition by Wesfarmers…
We’re not for sale, says Allianz
03 June 2003
Allianz Australia’s continuing underwriting woes have sparked media speculation that the company is up for sale, an assertion that CEO Terry Towell was swift in hosing down…
Lumley sale looms
03 June 2003
Reliable industry sources say the privately owned Lumley Insurance Group is on the verge of being sold, with final negotiations being completed and an announcement expected…
Brierley steps in to stop Tower toppling
03 June 2003
Sir Ron Brierley’s Guinness Peat Group has offered to support troubled NZ life insurer Tower by underwriting a $177 million capital-raising…
Promina ratings rise
27 May 2003
Who said Australian insurance operations needed to hang on to their foreign parents’ apron-strings to get a decent rating…?
IAG on track
27 May 2003
IAG says it is on track to achieve expected synergies and cost savings from its $1.86 billion acquisition of CGU and NZI…
More bad news from Tower
27 May 2003
Australia’s life insurance market has plummeted into more strife after trans-Tasman insurer and fund manager Tower announced it will make a first-half loss of about $159.6 million…
OAMPS acquires Adelaide broker
27 May 2003
OAMPS is staying on the acquisition trail, with the most recent being the general insurance portfolio of Adelaide-based brokerage Stuart Mortimer & Associates…