GPG puts their man in at Tower NZ
04 July 2011
Guinness Peat Group has placed one of its directors on the Tower NZ board…
Corporate
Insurers’ stock prices down but not out, say analysts
27 June 2011
Insurers’ share prices have taken a battering this year but analysts say the stocks’ popularity with investors will depend on how much the companies have to pay for reinsurance and whether…
The Rock sells commercial insurance business
27 June 2011
Queensland-based Regional Insurance Brokers has bought The Rock Building Society’s commercial and rural insurance business for $3.25 million…
IAG gets angry UK reception
27 June 2011
Senior IAG executives have received a hostile reception at its London annual general meeting…
Christchurch continues to shake Tower
27 June 2011
Tower NZ is now expecting the Christchurch earthquake to cost it between $NZ15-$20 million ($11.5-$15.4 million) by the end of its September 30 financial year…
FMG acquires livestock insurer
27 June 2011
New Zealand rural insurer FMG has purchased equine and livestock insurer Quadrant Insurance Group…
Suncorp explores further offshoring to India
20 June 2011
Suncorp is sending a team of executives from its commercial and personal lines businesses to India this week to further explore offshoring opportunities…
Insurers survive profit warnings
20 June 2011
Both IAG and QBE’s warning on the growing losses from catastrophes last week have not changed rating houses’ views on the insurers…
Claims blow out at QBE
20 June 2011
Catastrophes continue to hit QBE’s bottom line, with first-half claims now $US340 million ($321 million) higher than the first half of last year…
Fear will drive cycle change, says Berkley
20 June 2011
Bill Berkley, Chairman and CEO of US-based global specialty insurer WR Berkley, says “fear must overcome greed” in order for the market to turn…
IAG focuses on resilience
20 June 2011
IAG CEO Mike Wilkins believes it’s time for the insurance industry to step up its disaster resilience advocacy by pushing for better planning and building laws…
FMA drops action against Insured Group
20 June 2011
The New Zealand Financial Markets Authority has dropped its court action against Insured Group over breaches of continuous disclosure…
Blaze disrupts QBE office
20 June 2011
Staff at QBE’s Perth office are back at work after “minor disruptions” from a fire which damaged the CBD office…
IAG looks closer to home to build bigger footprint
14 June 2011
IAG intends to carve out a bigger footprint in the Australian, New Zealand and Asian markets, CEO Mike Wilkins told an investor strategy briefing today…
NZ insurer wrote $7.7 billion – much of it not reinsured
14 June 2011
The report says Western Pacific has received $NZ41.2 million ($31.7 million) in total earthquake claims, of which $NZ14.5 million ($11.1 million) relates to the September quake and…
CGU buys health fund’s general insurance lines
14 June 2011
CGU has acquired the general insurance business of WA-based health fund HBF, and says it will generate more than $100 million of gross written premium annually…
Zurich reaffirms commitment to commercial flood cover
14 June 2011
Zurich Australia General Insurance will continue to offer flood cover as standard to its commercial insurance customers, despite the flood losses experienced over the summer…
Lloyd’s Australian underwriters report $392 million surplus
14 June 2011
Lloyd’s underwriters in Australia reported a combined surplus of $392.23 million in the 12 months to December 31, according to data from the Australian Prudential Regulation Authority…
OAMPS UK acquires new book of business
14 June 2011
OAMPS UK, a subsidiary of local Wesfarmers-owned broker OAMPS, has acquired a team and book of life sciences business from UK firm Giles Insurance Brokers…
AMI Insurance ratings moved to stable outlook
14 June 2011
Ratings agency AM Best has maintained troubled New Zealand insurer AMI’s downgraded financial strength ratings following the insurer’s reinsurance negotiations, but changed the ratings…