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…
Corporate
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…
IAG will hold a big wedge of the general insurance market
03 December 2002
The ACCC’s approval of IAG’s acquisition of Aviva’s Australian general insurance business CGU will give IAG CEO Michael Hawker a huge insurance empire that controls more…
IAG offer fails to enthuse shareholders
26 November 2002
IAG won’t be happy with the way its discounted share offer went last week, with nearly $300 million of stock left on the shelf by investors last Friday…
Concord celebrates 25 years in style
26 November 2002
Concord Insurance Group celebrated its 25th Anniversary with a 350-guest dinner at Melbourne’s prestigious Regent Theatre Plaza Ballroom at the weekend…
‘NRMA’ tops insurance brands survey
26 November 2002
A magazine’s annual survey of Australians’ most trusted brands and professions suggests the IAG brand is taking a while to catch on with customers…
Suncorp picks a banker, too
19 November 2002
Number 2 insurer Suncorp has appointed former Commonwealth Bank senior executive John Mulcahy as its new MD and CEO to replace Steve Jones…
IAG still hurt by weak equity markets
19 November 2002
IAG exceeded operating targets for the first three months of the year, but bottom-line earnings are still being hurt by falling equity markets, shareholders were told…
NTI takes on Tassie
19 November 2002
National Transport Insurance has expanded its network of offices into Tasmania…
Big questions surround R&SA float
12 November 2002
Will the public float of Royal & SunAlliance’s Asia/Pacific assets be a success..?
AMI profits in wake of NZ weather disasters
05 November 2002
New Zealand general insurer AMI Insurance has achieved a profit of $NZ12.1 million for the year – down on 2001 but generally regarded as a solid result in light of the difficult…
Tower has its own problems
05 November 2002
Tower has reportedly abandoned plans to buy Royal & SunAlliance’s financial services assets, which have been on the market for several months…
IAG settles down NZ merger
05 November 2002
New Zealand brokers may find their options squeezed after the IAG purchase of Aviva’s Australian and NZ general insurance units…
Gerling: business as usual
05 November 2002
Gerling Global Re might have gone into run-off, but its local general insurance operation, Gerling Australia Insurance, is still doing business in the local market…
R&SA goes on CreditWatch negative
05 November 2002
Standard & Poor’s has placed its long-term A insurer financial strength and counterparty credit ratings of various Australian and New Zealand subsidiaries…
Crawfords open in Tasmania
05 November 2002
International adjusting and claims management firm Crawford & Company have opened their first office in Tasmania…
Suncorp annual results show forecasts for future underwriting profits
29 October 2002
First comes the expense of a major acquisition; then – eventually – come the profits from synergies…
OAMPS expands further with Bilmont buy
29 October 2002
Diversified financial services company OAMPS continues on its broker-consuming way, with the latest company to come under the company’s wing…
Netxsurance Brokers sold off
29 October 2002
Silvalake Financial Services Group has bought Sydney company Netxsurance Brokers, a wholly owned-subsidiary of NAQ Technology…
New Chairman for IBNA
29 October 2002
IBNA has selected Gary Gribbin, the CEO of medical indemnity insurer Professional Insurance Australia, as its new Chairman…