Daily
PSC revenue rises on organic growth, acquisitions
22 August 2019
PSC Insurance Group today reported underlying revenue increased 18% to $119 million in the last financial year, driven by robust organic growth and contributions from new acquisitions...
Sexual harassment reforms 'have implications for insurance'
22 August 2019
Australia’s Sex Discrimination Commissioner Kate Jenkins says the insurance industry has a role in encouraging employers to better manage issues, as action is stepped up to reform workplace practices that have failed complainants...
Hardening rates, acquisitions power Steadfast to 37% profit rise
21 August 2019
Steadfast today reported a 37% rise in after-tax net profit in the last financial year to $103.8 million, fuelled by the ongoing premiums upturn and earnings growth from acquisitions...
IAG fires back over fossil fuel investments
21 August 2019
Environmental campaign group Market Forces today lodged a resolution on behalf of more than 100 IAG shareholders, calling on the insurer to set a timetable to reduce its investment exposure to fossil fuels...
Suncorp revs up automated vehicles research
21 August 2019
Suncorp will participate in a research project testing automated vehicle safety after signing a partnership with the Queensland University of Technology...
AUB profit rises 4% after ‘challenging’ year
20 August 2019
AUB Group profit rose 4% to $48.4 million last financial year as its broking and underwriting businesses delivered stronger results. But a slump in the health and rehabilitation earnings and financial misconduct at a Canberra subsidiary eroded the gains...
Insurance arm boosts Johns Lyng’s profit
20 August 2019
Johns Lyng Group today reported a 25% rise in net profit for the year to June 30 to $13.4 million, aided by a strong showing from its insurance building and restoration services arm...
ICA backs building product comparison tool
20 August 2019
The Insurance Council of Australia is supporting the launch of an online building product comparison tool, as debate over how to solve the construction industry crisis continues...
Wickshire becomes first Australian-based Lloyd’s broker
16 August 2019
A Sydney brokerage has become the first Australian-based registered Lloyd’s broker as technological uptake at the London market makes it easier to transact business from global locations...
One more time: NZ to fund repairs for onsold quake homes
16 August 2019
The New Zealand Government will pay homeowners in Christchurch and surrounding areas who bought properties they later found contained botched repairs from the earthquakes and who are unable to claim on private insurance...
CTP overhaul: ministers seek national fix for automated car cover
16 August 2019
Australia’s top transport ministers want compulsory third party (CTP) insurance schemes across Australia to be rejigged to fill a gap in cover for automated vehicles...
‘Good pricing momentum’ lifts QBE’s half-year profit
15 August 2019
QBE today reported a 29% rise in first-half net profit to $US463 million ($683 million) as hardening prices and strong investment returns combined to offset challenging conditions in its North American crop business...
Reform pain: ICA chief says Hayne will ‘stretch’ industry
15 August 2019
The large number of reforms spilling out of the Hayne royal commission will stretch the general insurance industry to its limits and create a “seismic shift” in the way it operates, according to Insurance Council of Australia CEO Rob Whelan...
Lloyd’s broker with many Australia links dies
15 August 2019
Bruce Copp, a London-based specialist Lloyd’s broker with close ties to Australian insurance professionals, has died at the age of 65 after a battle with cancer...
Investor says ASIC’s Coverforce records are wrong
14 August 2019
Private equity investor Pemba Capital Partners says Coverforce shares issued to Resilium owners including MD Adrian Kitchin are invalid and Australian Securities and Investments Commission company records should be corrected...
Allianz stung with $250 million extra capital requirement
14 August 2019
Allianz must put in $250 million in extra capital requirement after coming up short in a risk governance self-assessment test it undertook last year at the request of the Australian Prudential Regulation Authority...
QBE works on customer charter
14 August 2019
QBE is about to launch a new Customer Charter, which it says will deliver better and more consistent outcomes for clients during the claims process...
ICA calls for disclosures on high-risk buildings
13 August 2019
Information from high-risk building registers should be shared by governments with insurers to provide clarity on potential liabilities, Insurance Council of Australia Head of Risk and Operations Karl Sullivan has told a NSW parliamentary inquiry...
Insurers lose in appeal over indemnity claim
13 August 2019
The NSW Court of Appeal has overturned a decision by a Supreme Court judge who had ruled the Bank of Queensland was not entitled to seek indemnity for $6 million it paid to settle a class action filed by 192 investors...
Saving koalas: insurer launches campaign
13 August 2019
NRMA Insurance has begun a campaign to raise awareness of the plight of Australia’s iconic koalas, by pledging to plant a tree every time it sells a home insurance policy...