Investors begin to slice up the Promina cake
15 April 2003
Investors yesterday had their first chance of getting a slice of Promina, which is offering 900 million ordinary shares in its $2.1 billion float…
Corporate
Tower: trimming back to simplify
15 April 2003
New Tower MD Keith Taylor will reduce costs by lessening the number of products on offer…
Promina pleased with float progress
08 April 2003
We’ve all seen the talking baby ad, and after a few weeks of intense marketing Promina says it has received a satisfactory response to its $2.1 billion interim public offer…
OAMPS makes it 20 so far this year
08 April 2003
OAMPS has acquired a Darwin brokerage after an absence of more than five years from the Northern Territory’s insurance industry…
Griffiths takes the helm at Norwich
01 April 2003
Norwich Union Australia has taken on a new leading man after the retirement of Rob Garnsworthy as the group’s CEO. He is Allan Griffiths, who has more than 30 years’ experience in the financial services industry…
Promina close to a ratings upgrade
01 April 2003
Promina CEO Mike Wilkins would have to be smiling at the announcement by Standard & Poor’s that it intends to raise the insurer financial strength and counterparty credit ratings…
Who’s who in CGU’s new intermediary arm
01 April 2003
IAG’s new CGU-centred Integrated Business division has announced its new managerial line-up under Group Executive Intermediary Business Bob Wagstaffe…
Munich Re downgrade follows bad news
01 April 2003
Standard & Poor’s has lowered the rating of reinsurer Munich Reinsurance of Australasia from AA+ to AA-…
IAG consolidates intermediary business through CGU
25 March 2003
The major step in fully integrating the CGU operation into the IAG conglomerate has been announced…
AMP starts the slow rebuild
18 March 2003
Andrew Mohl is a much happier man this week following a 12.4% rise in AMP shares from a record low of $5.90…
QBE beats profit expectations
11 March 2003
QBE Insurance has exceeded market expectations with a 2002 after-tax profit of $279 million…
Promina set to float
11 March 2003
Promina, the newly named local arm of Royal & SunAlliance, has kicked off its $2 billion capital-raising with a local newspaper and TV campaign…
IAG settles ‘inherited’ lawsuit
11 March 2003
IAG has settled out of court with Fortis Insurance International over a dispute dating back to 2001, when its now-subsidiary company CGU took over Fortis’ local operations…
IAG results better than expected
04 March 2003
Number one insurer Insurance Australia Group has recovered from the doldrums with a solid half-year net profit of $62 million to December 31, compared to $42 million…
AMP’s ratings unchanged despite $896 million loss
04 March 2003
It could have been worse…
Axa Asia Pacific turns out a profit
25 February 2003
It’s a busy financial reporting week for the financial services industry, and Axa Asia Pacific Holdings CEO Les Owen has kicked it off to a positive start with an after-tax profit…
AMP braces for flak over its results
25 February 2003
AMP will report its results tomorrow, and new CEO Andrew Mohl is unlikely to recieve the sort of approval Les Owen at Axa did yesterday…
R&SA sells a bit of Tyndall
18 February 2003
Consternation as news reached the street last week that yet another jewel in Royal & SunAlliance’s Australasian tiara has been sold…
AMP’s downward spiral
18 February 2003
AMP took its second blow for 2003 last week when its shares tumbled to a record low of $7.90 as result of the Standard & Poor’s downgrading of their credit rating…
Look on the bright side, AMP tells investors
18 February 2003
Australians struggling to see the wisdom of continuing to invest in plunging investment plans or superannuation funds have been urged by AMP’s Henderson Global Investors…