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…
Corporate
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…
Another two acquisitions for OAMPS
18 February 2003
OAMPS has added another two general insurers to their ever-expanding list…
QBE to exceed profit expectations
11 February 2003
Fresh from having it’s A+ rating confirmed by Standard & Poor’s, QBE expects to exceed its projected after-tax profit of $238 million by around 15%…
OAMPS takes over its 16th broker
11 February 2003
Sydney broker Derek Beresford is avoiding the regulatory mayhem surrounding his colleagues by selling his operation to Melbourne-based OAMPS…
St Andrew’s records profit despite slow market
11 February 2003
Perth-based insurer St Andrew’s Insurance has made a record profit of $2.63 million for 2002, and recorded a 32% rise in profit despite what it described as tough market conditions…
R&SA re-brands as Promina
04 February 2003
Royal & SunAlliance is now Promina, the latest new financial services name to hit the Australasian market…
OAMPS expands in Queensland
04 February 2003
OAMPS is still on its buying spree, and has let opposition brokers working in the middle market know it’s out for their business…
Ace Insurance on CreditWatch over asbestos reserve
04 February 2003
Standard & Poor’s has placed Ace Insurance on creditwatch negative after the Bermuda-based company boosted its reserves by $3.7 billion to pay for asbestos claims against…
QBE holds its A+ rating
04 February 2003
While many other insurers – locally and internationally – are struggling to stay away from a negative ratings creditwatch, local insurance group QBE is doing well, thanks…
Marsh acquires Melbourne broker
17 December 2002
Mega-broker Marsh has acquired the Melbourne broker Lowe Lippmann Bott…
Investment plunge: Everyone loses
17 December 2002
All around the world, insurance companies – life and general – have taken a savage pounding from the sharemarket…
IAG buys CGU
17 December 2002
In October UK-based global insurer Aviva announced plans to sell its Australian and NZ general insurance businesses to IAG…
NTI launches trucking solution
10 December 2002
A call centre with 24-hour medical assistance and advice aimed at helping truck drivers at the scene of accidents has been developed by National Transport Insurance…
IAG discounts its share offer
10 December 2002
Now that he has CGU and NZI firmly in his grasp, IAG CEO Michael Hawker still has to pay for them – and that’s not proving too easy in the present market environment…
Merrill Lynch values R&SA at $2.1 billion
10 December 2002
Stockbroker Merrill Lynch predicts the market value for the Asia-Pacific assets of Royal & SunAlliance could stand at $2.1 billion…
Zurich ditches direct, goes for broker
03 December 2002
Zurich has agreed to sell its direct personal lines insurance portfolio to QBE as part of a strategy to focus on its intermediated insurance business…