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…
Corporate
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-…
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…