US farm sector beckons
22 August 2006
QBE is letting its international divisions do the buying, with its American arm taking on a smaller agri-insurer’s renewal rights this week…
Corporate
Wesfarmers shows its strength
22 August 2006
Perth-based Wesfarmers Insurance has achieved operating revenue of $1.12 billion and earnings before interest and tax of $124.8 million for the 2005/06 financial year…
Penn promoted to head Axa Asia Pacific
22 August 2006
Axa Asia Pacific Holdings has promoted the current CEO of Axa Australia and NZ Andy Penn to the role of Group CEO, starting in October…
NTI heads across the Tasman
22 August 2006
Australia’s largest truck insurer, National Transport Insurance, opened its first NZ office in Auckland last week…
OAMPS buys Ballarat brokerage
15 August 2006
OAMPS has continued on its acquiring way, completing its eighth transaction since March…
Austbrokers takes up Shield
15 August 2006
Austbrokers has acquired Shield Underwriting Holdings for an initial payment of $3.62 million – representing 60% of the estimated purchase price based on Shield’s future performance…
FMG posts strong result
15 August 2006
Rural NZ insurance firm FMG has reported a net profit of $NZ17.57 million ($14.59 million) for the year to March, up from $NZ13.82 million ($11.48 million) in 2004/05…
UK job cuts won’t affect Zurich Australia
15 August 2006
700 jobs are under threat at Zurich’s UK business, but the Australian operation of the financial giant says the development has no implications here…
CommInsure bolsters CBA profit
15 August 2006
Commonwealth Bank of Australia achieved a net profit after tax of $3.928 billion for the 12 months to 30 June – an increase of 16% on last year – with its insurance division…
Insurers tipped to report flatter results
08 August 2006
Many of the big insurers will be announcing their financial results over the next few weeks, and the forecast for another year of record profits is looking a little cloudy…
Suncorp expects to shine
08 August 2006
The insurer with most to lose from Cyclone Larry seems to have escaped unscathed, last week upgrading its full-year expectations by about 19%…
Axa announces bumper profit
08 August 2006
Axa Asia Pacific Holdings has announced an increase of 23.3% in profit after tax and before non-recurring items to $303.8 million for the six months ended June 30…
Brokers get lessons in selling themselves
01 August 2006
NIBA brokerages around Australia have begun receiving the first instalment of a new marketing kit intended to help them reach new customers and build on their existing…
Another alliance – but is it important?
01 August 2006
Alliances between minor service providers and insurance companies are hardly unusual…
OAMPS forecasts 15% profit boost
01 August 2006
Just in case anyone thought falling rates might equate to falling profits, OAMPS Group announced this morning that it expects a rise of nearly 15% in its full-year after-tax profit…
OAMPS takes big regional transport broker
25 July 2006
OAMPS is showing few signs of halting its relentless takeover drive, adding another two enterprises to its stable…
Suncorp in M&A speculation again
25 July 2006
It’s only media speculation, but Brisbane-based Suncorp is at the centre of acquisition rumours again…
Stardex a new underwriting force
25 July 2006
Underwriting agency Dexta Corporation has formed a central controlling company, Stardex Insurance Group, to better diversify and promote growth…
Axa drops Winterthur Japan acquisition
25 July 2006
Despite entering an agreement last month, Axa Asia Pacific Holdings has decided not to buy the Japanese operations of global insurer Winterthur Group…
Euler Hermes finalises takeover
25 July 2006
International credit insurer Euler Hermes has finalised its acquisition of Lumley General Insurance’s credit insurance business in Australia and NZ…