IAG cuts board perks
09 September 2003
Insurance Australia Group has reduced its board by two, scrapped retirement benefits for new directors and frozen the retirement benefits being paid to existing board members…
Corporate
NAB to pay $67.2 million over funds breaches
09 September 2003
NAB’s wealth management arm has reached an agreement with the regulators to pay $67.2 million compensation to customers of its managed fund business over unit price breaches…
OAMPS profit jumps 57%
02 September 2003
Diversified insurance broking group OAMPS has announced a record net profit of just over $18 million for the year…
Promina’s track to success
02 September 2003
Promina has rewarded the faith of investors who bought shares in it’s $1.9 billion IPO earlier this year with a higher-than-expected half-year net profit of $135 million…
Suncorp: profits don’t halt falling share price
02 September 2003
Suncorp Metway’s $1.26 billion acquisition of GIO seems to have paid off, with the group’s annual net profit up by 23%…
Promising results for IAG
26 August 2003
Michael Hawker, CEO of No 1 general insurer Insurance Australia Group, has taken advantage of the most profitable market in years and the purchase of a top 10 competitor to record…
Record profit for QBE
26 August 2003
QBE has announced a half-year net profit of $241 million, compared with $115 million for the same period last year…
OAMPS continues acquisition plan
19 August 2003
Major broker OAMPS is adding two more brokerages to its expansive portfolio…
Insurers tell all this week
19 August 2003
AMP is set to announce its results on Wednesday, with shareholders expecting a first-half loss of more than $2 billion on top of the group’s $2.6 billion writedowns…
Another horror week for Mohl
12 August 2003
It’s been a horror week for AMP CEO Andrew Mohl…
IAG spins Circle off into NZI
12 August 2003
Just a couple of years after being created to capture a slice of the NZ broker market, IAG subsidiary Circle is heading into a quiet retirement…
For sale: one life insurance company
05 August 2003
Want to buy a thriving life company that nobody else seems to want…?
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…
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…