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-…
Corporate
IAG shares slump as S&P’s worries
06 August 2002
For anyone accusing the insurance industry of profiteering, IAG CEO Michael Hawker has given them cause to reconsider…
S&P’s will show some tolerance
06 August 2002
Recognising that IAG’s losses will come from investment markets rather than a weakness in its core operating earnings, S&P’s Director of Financial Services Ratings Michael Vine said…
OAMPS buys Wilson Hirst
06 August 2002
Wilson Hirst Insurance Brokers in Artarmon, NSW, is the second acquisition in OAMPS’ newly established Corporate Centre in North Sydney…
SRS seals deal with Suncorp
30 July 2002
Stirling Risk Services will take exclusive rights over Suncorp Metway’s corporate agents business under a new referral agreement…
R&SA opens new centre in Adelaide
30 July 2002
Royal & SunAlliance believes it will inject $19 million into SA’s economy over the next five years with the opening of its new “Personal Insurance Customer Service Centre” in Adelaide…
Axa gets new CFO
30 July 2002
AXA Asia Pacific has replaced CFO Matthew Slatter with former Head of Operations Andy Penn…
Tower MD retires
30 July 2002
James Boonzaier, MD of NZ-based Tower Limited, has retired after 12 years in the top job…
IAG gets Elders to distribute its country CTP
23 July 2002
Insurance Australia Group has signed up Elders Insurance to increase its market share in the country Queensland CTP market…
Deloitte changes its name
23 July 2002
Deloitte Consulting has decided to change its name to Braxton…
OAMPS acquires Halliday & Nicholas
16 July 2002
OAMPS’ buying spree continues with major Sydney broker Halliday & Nicholas joining the diversified insurance group…
R&SA may have to split up assets
16 July 2002
Royal & SunAlliance’s non-general insurance operations in Australia may be broken up to expedite their sale…
QBE puts $100m into reinsurance
16 July 2002
US-based QBE Re has received about $100 million from its Sydney parent, QBE Insurance…
Positive outlook for Suncorp
16 July 2002
Suncorp Metway has assured shareholders that it is “marginally positive” about its investment returns on general insurance shareholder funds for the six months to June 2002…
Poor returns will knock IAG
09 July 2002
Poor equity returns will affect the bottom line returns of many companies this year, with insurer IAG leading the rush to warn its investors that things aren’t all rosy…
OAMPS breaks new ground
09 July 2002
Booker International Specialist Insurance Services, one of Australia’s largest underwriting agencies, has been acquired by the OAMPS group…
Robertson & Co finalises merger with world leader
09 July 2002
It’s official – Robertson & Company in Australia has been absorbed into international firm Crawford & Company, creating one of the largest independent loss adjustment…
CUNA Mutual takes stake in Finsure.Australia
02 July 2002
US-based insurer CUNA Mutual has acquired a 100% stake in insurance brokerage Finsure Australia as it moves to establish itself as the lead player in Australia’s healthy…
IAG looks to Japan for Asia entry
02 July 2002
Insurance Australia Group has entered into a “co-operative arrangement” with giant Japanese insurer Aioi as part of a long-term strategy to expand overseas…
New MD named at Australian Unity
02 July 2002
Australian Unity has appointed director Ian Ferres as the new group MD, replacing Mark Sibree who resigned in late May…