Wednesday, December 13, 2017

Australia

IAG seeks bigger China presence after profit drop

IAG seeks bigger China presence after profit drop

A 41% drop in full-year net profit has prompted a strategic review for the Australian insurer.

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QBE Insurance names new ANZ head

QBE Insurance names new ANZ head

Tim Plant succeeds Colin Fagen, who has been promoted as new group chief strategy officer.

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Cyber insurance now a priority for Australian firms

Cyber insurance now a priority for Australian firms

Country’s digital networks are experiencing an increase in cyber-attacks, according to the Australian Cyber Security Center.

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Aussie insurers seek to scrap “inefficient” taxes

Aussie insurers seek to scrap “inefficient” taxes

ICA CEO Rob Whelan urges government leaders to abolish the “inefficient” insurance taxes.

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Australia’s QBE sells N American unit for US$90m

Australia’s QBE sells N American unit for US$90m

The sale is expected to free up more than US$100 million in capital and reduce policy sales by about US$400m.

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Australia’s health insurer NIB buys World Nomads for US$95m

Australia’s health insurer NIB buys World Nomads for US$95m

Acquisition of the country’s third-largest travel insurance provider to be funded through surplus capital and debt.

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Australia’s insurance reform plan divides planners

Australia’s insurance reform plan divides planners

Some consider the reform challenging, others claim a very positive first step to restructuring the life industry.

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Australia’s Suncorp life head quits

Australia’s Suncorp life head quits

Geoff Summerhayes plans to step down this September to pursue other business opportunities.

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Insurance Asia Group names new deputy chair

Insurance Asia Group names new deputy chair

Virgin Australia Group’s chairman, Elizabeth Bryan appointed as deputy chairman.

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Insurance bought through financial advisers said to be cheaper

Insurance bought through financial advisers said to be cheaper

Report based on the analysis of more than 20 life insurance offers in Australia.

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Chubb Insurance names new Australia CEO

Chubb Insurance names new Australia CEO

Veteran, Matthew Doquile takes on new role from 1 July,

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Warren Buffett buys US$388m stake in IAG

Warren Buffett buys US$388m stake in IAG

IAG to sell a 3.7% stake to Berkshire Hathaway Inc. in a 10-year strategic partnership.

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Greenstone delays US$900m Australia IPO plan

Greenstone delays US$900m Australia IPO plan

Life Insurance distributor unwilling to accept a cut in valuation, according to reports.

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Nippon Life said to acquire National Australia Bank’s life insurance unit

Nippon Life said to acquire National Australia Bank’s life insurance unit

Analysts value the life insurance business at up to US$1.4bn.

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Australia’s April and May storm claims hit US$1.55bn

Australia’s April and May storm claims hit US$1.55bn

Over US$3.45bn worth of claims related to catastrophes handled since November 2014.

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Greenstone targets US$984m in Australia IPO

Greenstone targets US$984m in Australia IPO

Australian life Insurance distributor plans a 16 June listing.

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Majority of Australians regard insurance purchase as investment

Majority of Australians regard insurance purchase as investment

Findings from a survey commissioned by Australian insurer Budget Direct.

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Australia’s Honan Insurance acquires Singapore’s MACS

Australia’s Honan Insurance acquires Singapore’s MACS

General Insurance and Employee Benefits broker in South East Asia acquired for an undisclosed amount.

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