Local disasters to cost Axis more than $270 million
28 March 2011
Axis Capital Holdings has estimated the Christchurch earthquake and Australian weather disasters will cost it between $US275-$US315 million ($271-310 million) this quarter…
Corporate
Wesfarmers buys NZ broker
28 March 2011
Wesfarmers Insurance’s NZ broking subsidiary Crombie Lockwood is acquiring Christchurch-based broker Fraser Macandrew Ryan…
Vero takes on Wallabies sponsorship
28 March 2011
Vero has taken over parent company Suncorp’s sponsorship of the Australian Rugby Union and the Wallabies national rugby team…
Christchurch earthquake: AMI’s ratings downgraded
28 March 2011
AM Best has downgraded the financial strength and issuer credit ratings of AMI Insurance following the Christchurch earthquake…
A&G Insurance Services launches new price comparison site
28 March 2011
A&G Insurance Services has launched a new price comparison website, Captain Compare, to compare quotes for car insurance, as well as mobile phone plans, broadband deals…
iPhone app for rebuilding costs
28 March 2011
LMI Mobile has launched an iPhone app designed to reduce underinsurance on buildings…
NZ’s Serious Fraud Office investigates failed Herbert Insurance
21 March 2011
New Zealand’s Serious Fraud Office is investigating Auckland-based brokerage Herbert Insurance Group over concerns that premiums have not been transferred to insurers, and clients have been…
Cats hit Munich Re’s regional profit target
21 March 2011
Munich Re’s Australia and NZ business will miss its profit target for 2011 as a result of the company’s exposures to the region’s recent natural catastrophes…
Ebix now world’s largest insurance exchange business
21 March 2011
Insurance technology provider Ebix has recorded a healthy rise in its net income in 2010 to become the largest insurance exchange player in the world, CEO Robin Raina says…
NZ insurer pauses to assess exposures
21 March 2011
NZ-based insurer Western Pacific has temporarily halted acceptance of new business while it assesses its risk portfolio…
Calliden buys builders’ warranty system
21 March 2011
Calliden is taking full control of the Construction Insurance System that it uses for builders’ warranty insurance…
New UAA chief
21 March 2011
Michael Murphy has been appointed CEO of QBE subsidiary Underwriting Agencies of Australia…
Japan quake: QBE details exposure
14 March 2011
QBE is exposed to about $US125 million ($123.9 million) in net insurance claims from the earthquake and tsunami in Japan…
Munich Re: $1.5 billion in losses from Australia/NZ disasters
14 March 2011
Just a few days before the Japan earthquake and tsunami, Munich Re Chairman Nikolaus von Bomhard warned shareholders the group would only be able to maintain profit if major losses remained below average for the rest of the year…
Zurich to establish executive committee
14 March 2011
Zurich Australia’s diverging general insurance and life operations will remain connected at the top through the creation of an executive committee…
Insurance remains key focus: DLA chief
14 March 2011
Diversified law firm DLA Phillips Fox says its integration with global firm DLA Piper will not dilute its local insurance expertise…
NRMA unveils new commercials
14 March 2011
IAG’s key motoring brands, NRMA Insurance, SGIO and SGIC last night reinvigorated their motor advertising with the launch of a new campaign – “You’re Never Without a Car” – to pitch the benefits of comprehensive insurance cover…
Primacy looks to expand crop yield product
14 March 2011
Primacy Underwriting Agency is developing crop simulation technology to produce yield data for underwriting after discovering the data is no longer available through the Federal Government…
Dual poaches QBE team for NZ foray
07 March 2011
Dual International has opened an office in Auckland after poaching three top executives from QBE’s corporate and specialist risks division in NZ…
Tokio Millennium Re opens Sydney shop
07 March 2011
Bermuda-based reinsurance group Tokio Millennium Re has begun underwriting in Australia following approval from the Australian Prudential Regulation Authority…