Wednesday, February 21, 2018

Australia

IAG sees ‘limited’ Asia opportunities

IAG sees ‘limited’ Asia opportunities

The Australian group is conducting a strategic review of its US$630m investment in the region.

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IAG reviews Asian operations

IAG reviews Asian operations

The review comes after a sharp surge in its first half 2017 profits, owing to higher premiums.

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China Life reportedly acquiring AMP’s life assets for US$3bn

China Life reportedly acquiring AMP’s life assets for US$3bn

A possible deal to buy the troubled life insurance assets could be announced in May, according to reports.

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QBE expects to book $1.2bn in losses

QBE expects to book $1.2bn in losses

Huge wildfires in California, storms in Australia and Hurricane Maria contributed to unprecedented costs.

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CBA eyes selling stake in Indonesian venture

CBA eyes selling stake in Indonesian venture

The sale of a majority stake in Commonwealth Life could value the insurer at up to US$250m.

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Chubb makes leadership changes in Asia Pacific

Chubb makes leadership changes in Asia Pacific

John French named head of broker distribution and Jarrod Hill as country president, Australia and New Zealand.

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Zurich agrees to buy ANZ life insurance arm for US$2.1bn

Zurich agrees to buy ANZ life insurance arm for US$2.1bn

The Swiss insurer will become the biggest insurance company in the country after the deal.

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Allied World appoints country manager for Australia

Allied World appoints country manager for Australia

Iain MacLeod will lead the company in the execution of its growth plan for the country.

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ANZ nears final stage of sale of life insurance unit

ANZ nears final stage of sale of life insurance unit

A deal will likely be completed in the latter half of 2018 if the transaction is signed next week.

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IAG shares 12.5% premiums, costs with reinsurers

IAG shares 12.5% premiums, costs with reinsurers

In an effort to curb volatility in its earnings Australia’s biggest general insurer is releasing capital.

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Steadfast to buy Whitbread Insurance for US$72m

Steadfast to buy Whitbread Insurance for US$72m

Australia’s biggest network of insurance brokers and advisers said it would finance the acquisition with a A$100m institutional placement.

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IAG stalls Asia expansion to focus on home markets

IAG stalls Asia expansion to focus on home markets

Declining commercial and regulatory conditions have restrained opportunities for its expansion in the region.

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Honan Insurance to acquire Singapore-based NGA Benefits

Honan Insurance to acquire Singapore-based NGA Benefits

The Australian-owned and operated buyer is looking to add to its growing employee benefits business in South-East Asia.

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QBE says 2017 could be costliest in history

QBE says 2017 could be costliest in history

The Australian insurer expects its earnings to be dented by rising claims from this year’s disasters.

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Suncorp plans to sell life insurance unit

Suncorp plans to sell life insurance unit

The move comes after chief executive Michael Cameron commenced a strategic review of the division in February.

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AIA pays A$3.8 billion for CBA life unit

AIA pays A$3.8 billion for CBA life unit

The Asian insurance giant has acquired Australia’s CommInsure Life and New Zealand’s Sovereign.

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AIA set to buy Commonwealth Bank’s life assets

AIA set to buy Commonwealth Bank’s life assets

The Asian insurance group has become favourite to buy the unit in a deal said to be worth more than US$4bn.

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Pat Regan expected to become QBE’s new CEO

Pat Regan expected to become QBE’s new CEO

He is expected to replace John Neal when the current CEO steps down at the end of the year.

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Nina Klingspor, Allianz Global Corporate & Specialty

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