Suncorp Australia earnings drop, NZ business jumps
12 August 2019
Suncorp Australian insurance earnings fell 13.7% last financial year while its New Zealand result surged on premium gains and benign weather...
Corporate
Allianz drops CCI after ASIC demands higher standards
12 August 2019
Allianz will no longer support consumer credit insurance, declaring the business is no longer cost-effective after a regulatory crackdown...
Australia reforms hit Munich Re result
12 August 2019
Munich Re generated a 36% rise in profit to €993 million on low costs from major losses in the three months to June 30, its best quarter in four years, although the Australian disability business dragged on earnings...
Natural disasters wreak havoc on CBA profits
12 August 2019
Profits from the Commonwealth Bank’s mortgage broking and general insurance division declined by a staggering 73% – or $81 million – compared to the 2018 financial year, the bank says...
Handdii snares new funding
12 August 2019
Property repair claims platform Handdii has secured $1.5 million in seed funding, supporting further market expansion after rollouts in Melbourne, Adelaide and Sydney...
Agile to expand into A&H market
12 August 2019
Sydney-based Agile Underwriting is expanding into accident and health insurance and has appointed Adam Bohacek to develop a new department focusing on the market...
Blockchain-based app aims at broker customers
12 August 2019
A blockchain-based platform to help broker customers catalogue and register assets and valuables has been released...
NZ broker buys Primesure
12 August 2019
NZ insurance broker Runacres has acquired broker Primesure in a bid to expand its presence in Auckland...
AUB Coverforce deal hinges on court outcome
05 August 2019
AUB Group’s bid to acquire Coverforce Holdings will depend on the outcome of a case before the Supreme Court...
Suncorp’s ‘Amazon’ approach set for change
05 August 2019
Suncorp Acting CEO Steve Johnston has assured brokers they are a key part of the company’s strategy after it had previously highlighted a retail sales approach...
Commercial pricing is now sustainable, says Dransfield
05 August 2019
Suncorp Insurance CEO Gary Dransfield says pricing in commercial portfolios has reached levels necessary for sustainable returns, with the firm cutting back in areas that fell short of requirements...
Not affected: Sportscover reassures market
05 August 2019
Sportscover Australia says it is business as usual at the specialist underwriting agency, despite its parent company’s financial difficulties...
Police probe continues into Austbrokers Canberra
05 August 2019
ACT Police has confirmed it is still investigating alleged financial misconduct at AUB Group subsidiary Austbrokers Canberra...
Genworth on track to meet full-year earnings guidance
05 August 2019
Genworth is on track to meet its full-year profit guidance after it grew its traditional lenders’ mortgage insurance business in the first half despite tight credit and moderating market conditions...
Aviso Group adds Sydney-based partner
05 August 2019
Brokerage Aviso Group has added a 10th partner business through the merger of three Sydney-based firms...
Gallagher Bassett buys Fullerton
05 August 2019
Gallagher Bassett has bought Fullerton Health Corporate Services as it expands its Australian claims management operations and industry network in accident and health...
WTW beefs up its M&A capability
05 August 2019
Willis Towers Watson has further bolstered its mergers and acquisitions presence with last week’s purchase of Risk Capital Advisors, a broker that specialises in this area...
Marsh sees JLT integration tracking well
05 August 2019
Marsh & McLennan CEO Dan Glaser says clients in Australia are “reacting positively” following the acquisition this year of rival broker JLT and the global integration is tracking in line with expectations...
S&P affirms Chubb rating, cites sound competitive position
05 August 2019
S&P affirmed its 'AA-' credit ratings on Chubb Insurance Australia, citing a sound competitive position and stable operating performance, and very strong financial profile...
CBA’s Stasi named as IAG’s people head
05 August 2019
Insurance Australia Group has appointed Christine Stasi as Group Executive of People, Performance and Reputation...