AMP: a two-from-one split to avert disaster
06 May 2003
AMP was one company no one ever thought would be a takeover prospect. It was too big, too profitable. But as its share price headed south yesterday, the realisation came…
Corporate
Promina in the clear, say analysts
06 May 2003
Speculation that the AMP’s $1.5 billion capital-raising might interfere with the Promina float has been discounted, with CEO Mike Wilkins reportedly relaxed about the situation…
Loss adjusters contemplate a merger
06 May 2003
Two of Australia’s major loss adjusting firms, McLarens Toplis and Freemans Group, are discussing a merger as the profession continues to consolidate at the top end…
Promina overcomes AAMI hiccup
29 April 2003
You don’t often hear of a subsidiary having a bit of a spat with its parent, but then again you don’t often come across a subsidiary quite as dominant as AAMI…
Promina’s new general insurance progeny – Vero
23 April 2003
Promina’s intermediated general insurance businesses in Australia and NZ have changed their name from Royal & SunAlliance to Vero…
Promina: how’s the float actually going?
23 April 2003
While Promina is remaining relatively tight-lipped in regards to the progress of its $2 billion float, the media has been telling its own stories…
OAMPS adds another to its list
23 April 2003
OAMPS has acquired SA broker Stuart Mortimer & Associates, which specialises in licensed post offices and newsagents…
QBE set to surge
15 April 2003
QBE is on-track to exceed its target of a 50% increase in net operating profit this year…
Investors begin to slice up the Promina cake
15 April 2003
Investors yesterday had their first chance of getting a slice of Promina, which is offering 900 million ordinary shares in its $2.1 billion float…
Tower: trimming back to simplify
15 April 2003
New Tower MD Keith Taylor will reduce costs by lessening the number of products on offer…
Promina pleased with float progress
08 April 2003
We’ve all seen the talking baby ad, and after a few weeks of intense marketing Promina says it has received a satisfactory response to its $2.1 billion interim public offer…
OAMPS makes it 20 so far this year
08 April 2003
OAMPS has acquired a Darwin brokerage after an absence of more than five years from the Northern Territory’s insurance industry…
Griffiths takes the helm at Norwich
01 April 2003
Norwich Union Australia has taken on a new leading man after the retirement of Rob Garnsworthy as the group’s CEO. He is Allan Griffiths, who has more than 30 years’ experience in the financial services industry…
Promina close to a ratings upgrade
01 April 2003
Promina CEO Mike Wilkins would have to be smiling at the announcement by Standard & Poor’s that it intends to raise the insurer financial strength and counterparty credit ratings…
Who’s who in CGU’s new intermediary arm
01 April 2003
IAG’s new CGU-centred Integrated Business division has announced its new managerial line-up under Group Executive Intermediary Business Bob Wagstaffe…
Munich Re downgrade follows bad news
01 April 2003
Standard & Poor’s has lowered the rating of reinsurer Munich Reinsurance of Australasia from AA+ to AA-…
IAG consolidates intermediary business through CGU
25 March 2003
The major step in fully integrating the CGU operation into the IAG conglomerate has been announced…
AMP starts the slow rebuild
18 March 2003
Andrew Mohl is a much happier man this week following a 12.4% rise in AMP shares from a record low of $5.90…
QBE beats profit expectations
11 March 2003
QBE Insurance has exceeded market expectations with a 2002 after-tax profit of $279 million…
Promina set to float
11 March 2003
Promina, the newly named local arm of Royal & SunAlliance, has kicked off its $2 billion capital-raising with a local newspaper and TV campaign…