AMP shares dive on Pearl discovery
24 September 2002
AMP’s share price has fallen to a record low after investors learned last week that the UK-based Pearl operation is in breach of minimum capital requirements…
Corporate
Happy 100th, Lumley
17 September 2002
Lumley has rebranded with a new logo to celebrate its centenary…
Zurich will survive in Australia: Butler
17 September 2002
Zurich Australia is confident of surviving in the local market despite a pullback announced by Global CEO James Schiro last week…
RACV under the gun
17 September 2002
Pressure is mounting on the largest remaining insurance mutual, Victoria’s RACV, to demutualise…
QBE Re manager recalls an embarrassing day
17 September 2002
Two senior QBE Re managers were at the reinsurance industry’s most important meeting last year when the parent company halted trading in its shares…
IAG company secretary walks
17 September 2002
IAG has lost one of its high-profile female executives…
OAMPS acquires Spencer Jones
17 September 2002
Diversified insurance group OAMPS has continued with its remarkable acquisition spree, sweeping up Chatswood-based Spencer Jones Insurance Brokers…
Marsh appoints new GM for southern region
17 September 2002
Marsh has appointed a new GM, Southern Region, for its Victorian and Tasmanian operations…
QBE raises $270 million
10 September 2002
QBE CEO Frank O’Halloran has again demonstrated his supreme confidence in the company’s future by raising $270 million to fund expected premium growth, with the issue of…
Zurich Australia ratings lowered
10 September 2002
Standard & Poor’s has lowered its insurer financial strength and counterparty credit ratings on Zurich Australia from A+ to A, and in a move that has negative implications…
Profits plunge as Aussie insurers ante up
03 September 2002
No insurers – in Australia or practically anywhere else – are particularly happy with their financial results this year, which is bad news all-round, particularly for insurance-buyers…
GIO shines for Suncorp
03 September 2002
Suncorp’s poor investment returns and non-cash charges for goodwill arising from the group’s $1.4 billion acquisition of the GIO business last year made the 2002 result…
QBE looks forward to better times
03 September 2002
Frank O’Halloran has typically focused not on the group’s loss for the year but on the hopefully brighter future…
Alliance tracks ahead of forecasts
03 September 2002
Perth-based premium funder Alliance Finance Corporation says it’s tracking well ahead of its forecasts for business growth…
Equity woes hurt IAG profits
27 August 2002
Despite a record performance from its underlying business, Insurance Australia Group has announced a full-year loss of $25 million, attributing it to the equity market’s “worst performance…
AMP also affected by equity market volatility
27 August 2002
IAG isn’t the only insurer with a bottom line bruised by volatile equity markets…
Standard & Poor’s lowers R&SA ratings
27 August 2002
Standard & Poor’s has lowered the insurer financial strength and counterparty credit ratings on Royal & Sun Alliance Insurance Australia, R&SA Insurance New Zealand…
OAMPS reaps rewards
20 August 2002
OAMPS Chairman John Jones must be getting used to transmitting good news about the company’s recovery from the doldrums of a few years ago…
IAG could extend insurance cover if reforms go well
13 August 2002
No one’s sure quite how IAG could make a killing in the public liability and professional indemnity markets, but CEO Michael Hawker has a plan…
RSA Life NZ gets rating downgrade
13 August 2002
Royal & SunAlliance’s NZ life and disability operation has had its insurer financial strength and counterparty credit ratings downgraded by Standard & Poor’s from A+ to A-…