‘Pay as you drive’ policy launched
25 August 2008
Hollard Insurance subsidiary Real Insurance has launched a “pay as you drive” policy, under which qualified motorists pay only for the kilometres they plan to travel...
Corporate
QBE spends $1 billion to buy mortgage insurer
18 August 2008
QBE Insurance is buying the Australian and NZ operations of underperforming US-based PMI Mortgage Insurance, and has agreed in principle to buy PMI’s Asian operations as well...
CommInsure new business soars 102%
18 August 2008
The Commonwealth Bank’s insurance arm CommInsure has recorded a 102% increase in new business among general insurance lines after installing 130 insurance specialists…
Wesfarmers’ outlook revised to stable
18 August 2008
Ratings agency Standard and Poor’s has revised the outlook of Wesfarmers’ insurance units from negative to stable...
Elders profits up 19%
18 August 2008
Rural service company and insurance provider Elders has achieved its best ever result with record profits for the last financial year...
Allianz wins bid to underwrite HSBC insurance
18 August 2008
Allianz Australia has signed with HSBC Bank Australia to provide local bank-branded general insurance products, in a deal that mirrors international arrangements...
Mansions boss fired in dispute over strategy
11 August 2008
Sue Hutchinson, National Manager of underwriting agency Mansions of Australia, has been fired by the agency’s owner Calliden in a dispute over the agency’s future direction...
EbixExchange pays off for software specialist
11 August 2008
Insurance software specialist Ebix Australia has mimicked its US parent with strong second-quarter results...
Axa Asia Pacific net profit falls 75%
11 August 2008
Axa Asia Pacific last week recorded a 75% drop in first-half net profit, though the return of $94.2 million generally beat analysts’ expectations...
Suncorp forecasts 50% drop in net profit
04 August 2008
Suncorp has warned the global credit crunch has combined with stormy weather and markets to depress the company’s full-year net profit by nearly 50%...
British regulator fines IAG’s Hastings $2 million
04 August 2008
Troubled IAG-owned UK motor specialist Hastings has been handed a £735,000 ($1.5 million) fine by the UK regulator...
QBE denies it’s trading in Burma
04 August 2008
QBE has denied a report that it’s a player in the Burmese insurance market...
Calliden buys motorcycle underwriter
04 August 2008
Calliden Group subsidiary Dawes Underwriting Australia has acquired the portfolio of Arista Underwriting Agency, adding motorcycle insurance to existing prestige car lines...
Suncorp sells 50% stake in RAC WA Insurance
28 July 2008
Suncorp has sold its 50% stake in Royal Automobile Club (Western Australia) Insurance after the Promina merger gave RAC-WA the green light to reclaim full ownership of the division...
JLT on the Gold Coast
28 July 2008
Jardine Lloyd Thompson has opened a new retail office on the Gold Coast, taking its network of local branches to 17...
Axa funds under management drop 11% as markets bite
28 July 2008
Troubled financial markets continue to affect the operating results of Axa Asia Pacific, which has recorded a first-half dip of 13% in total group funds under management...
Tower Australia rating revised upward
28 July 2008
Standard and Poor’s has lifted the outlook for life insurance specialist Tower Australia from stable to positive...
Fitch downgrades IAG’s outlook
21 July 2008
Fitch Ratings today affirmed the financial strength rating of IAG at AA-, but downgraded its outlook from stable to negative...
Suncorp gets A+ on S&P report card
21 July 2008
Suncorp has scored an A+ in its latest credit rating from Standard & Poor’s, which credits the bancassurer with astute management in adverse trading conditions...
Zurich revitalises Global Corporate in Australia
21 July 2008
Zurich Financial Services has increased its investment into insurance and risk management service Global Corporate, targeting Australian and New Zealand corporates worth more…