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24 April 2017
Moody’s Investors Service expects to maintain the ratings of insurers offering lenders’ mortgage insurance (LMI) over the next year.
It says the companies are well capitalised, have low and stable loss ratios and retain strong market positions.
But it notes the portfolios of Genworth, QBE LMI and Westpac LMI are concentrated relative to global peers, which exposes them to volatility from weakness in a particular region or single client.
Genworth and QBE LMI account for about 85% of the local market.
Moody’s VP and Senior Credit Officer Ilya Serov says the companies exceed regulatory capital requirements and have relatively low loss ratios that will offset risk from economic slowdown.
He told insuranceNEWS.com.au the lenders’ mortgage insurers have adopted more conservative underwriting practices since 2008, so the quality of their portfolios will increase.
As a result, loss ratios should remain low and may even improve.
Although Sydney house prices have risen recently, Mr Serov says excessive credit growth or a loosening of lending criteria is not fuelling the rise.
18 April 2017
The successful applicant will be responsible for all ANZ Claims (ie direct) related strategic procurement for bodily injury (ie providers of services relating to health, recovery and injury management) and investigations (ie providers of investigative services).
11 April 2017
Westlawn Insurance Brokers is an established and respected local company with nine branches across Northern NSW. We are looking for an Insurance professional with drive and commitment to join our Lismore team.
11 April 2017
With responsibility for Professional Liability across both Australia and New Zealand, this role will require delivery on product strategy, profitability, growth and efficiency.