Claim reserves eat into Genworth’s Q2 results
03 August 2020
Genworth Mortgage Insurance’s loss ratio blew out to 87% in the second quarter as it earmarked $35.5 million for expected future COVID-19-related claims...
Corporate
HDI steps up M&A presence with new underwriting partner
03 August 2020
HDI Global Specialty announced today it has reached agreement with specialty insurance platform Fusion to offer additional capacity in the mergers and acquisitions space in Australia...
Shareholder drops plan to take over iSelect
03 August 2020
iSelect says major shareholder Innovation Holdings Australia has dropped plans to launch a takeover of the company amid impacts from the COVID-19 pandemic...
Ensurance says UK business growing despite lockdown
03 August 2020
Underwriting agency Ensurance says its main UK and international operations performed strongly in the June quarter, suffering just a brief dip in business during the recently ended virus lockdown...
Cyber attack had ‘minimal impact’ on Xchanging clients
03 August 2020
The recent ransomware attack on Xchanging had “minimal impact” on its customers, parent company DXC Technology said in an update...
IAG flags hit to earnings
27 July 2020
IAG expects to record sharp falls in earnings for the last financial year as the business copped a huge blow from adverse natural perils, prior period reserving and credit spread factors...
QBE sees pandemic impact on ‘multiple lines’
27 July 2020
QBE has forecast COVID-19 costs could be around $US600 million, including impacts on multiple lines of business this year and next...
Gallagher acquires another Queensland brokerage
27 July 2020
Gallagher has acquired Brisbane-based Southbank Insurance Brokers as it continues to expand in Queensland...
Steadfast set to achieve pre-pandemic earnings targets
27 July 2020
Steadfast Group is on course to achieve the 2019/20 earnings targets it had set until the pandemic broke out in March, forcing the broker to discard the guidance...
Pandemic boosts demand for efficient technology: BAIS
27 July 2020
Insurance technology firm BAIS says more companies are looking to launch digital products and remove inefficiencies in existing systems as the pandemic accelerates change...
Genworth explains promissory notes issuance to Axa
27 July 2020
Genworth Mortgage Insurance Australia says Axa does not have “any ability to control votes attached to secured shares” in the business after the French insurer was issued promissory notes that are backed by a portion of its US-based parent’s stockholding...
Suncorp NZ signs up to electricity offset scheme
27 July 2020
Suncorp New Zealand has signed up to Meridian Energy’s renewable energy certificates, which match electricity consumption with renewable energy generation...
Lawyers say class actions against JLT are progressing
20 July 2020
Class actions brought against broker JLT by local governments are progressing through the NSW and Victorian Supreme Courts, law firm Quinn Emanuel Urquhart & Sullivan says...
QBE holds pricing on SME, commercial motor
20 July 2020
QBE has held pricing on SME and commercial motor insurance as part of its support for struggling clients battling coronavirus impacts...
Youi says 250,000 take up refund offer
20 July 2020
A quarter of a million car insurance customers affected by COVID-19 have taken up Youi’s premium refund offer, the insurer says...
Aon loses trio as BMS launches energy division
20 July 2020
Specialist broker BMS Group has set up a new energy division in Australia after appointing three key staff members from Aon...
Perth broker expands into SA
20 July 2020
Perth-based broker Mavco Insurance Group is expanding with the addition of a new office in Adelaide which it says will support a growing number of east coast clients...
Bank lures first home buyers with $1 mortgage insurance
20 July 2020
Westpac-owned St George Bank has reduced the cost of Lenders Mortgage Insurance to just $1 for eligible first home buyers...
RACQ Insurance selects local insurtech
20 July 2020
RACQ Insurance has partnered with Brisbane-based insurtech ENData to digitise its home and contents claims, speeding resolution and keeping its members connected and up to date...
PSC commits to pre-virus earnings target
13 July 2020
PSC Insurance Group says its business performed strongly in the last few months, placing the broker in a good position to meet the earnings guidance it had set before the virus pandemic erupted in March...