Country: Australasia Page 97 / 102
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- November 1 2018
QBE splits Asia Pacific arm
The business will be divided into two units: International and Australia Pacific.
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- October 26 2018
AMP sells Australia life insurance division
Australia' largest wealth manager has sold the unit to Resolution Life for US$2.34bn.
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- October 8 2018
Aussie commission highlights conflicts
A long-running investigation into the financial services sector has criticised the practice of cross-selling.
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- September 5 2018
Dai-ichi Life confirms purchase of Suncorp’s life arm
Japan’s Dai-ichi Life to pay A$640 million (US$460 million) for the Australian life firm.
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- August 17 2018
Aussie scandal felt around the world
Global insurance rates are on their longest uptrend since 2013, thanks to Australia’s badly behaved banks.
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- August 17 2018
QBE profit rises after streamlining its structure
The insurer credited the performance to much-improved operations in several regions.
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- August 10 2018
Suncorp confirms sale of life insurance unit to Dai-ichi Life
Australia's second-biggest general insurer will generate US$540m from the sale to the Japanese group.
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- August 8 2018
Chubb launches flight delay insurance in Australia
Offered in partnership with Swiss Re, the new policy pays out automatically for delays as short as 30 minutes.
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- July 9 2018
XL Catlin hires Australian portfolio solutions manager from Zurich
Jonathan Moss will be responsible for portfolio solutions, ensuring business alignment with brokers and managing relationships.
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- July 3 2018
AIA completes deal for CBA’s NZ life insurance business
The net cash outlay by AIA is expected to be less than US$500m after the reinsurance arrangement.
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- June 6 2018
Japanese life firms rush to Australia for growth opportunities
Strong prospects Down Under are being driven by a growing population and a mature economy.
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- May 31 2018
ANZ New Zealand sells OnePath Life to Cigna
The NZ$700m (US$484m) is part of the Australian company’s efforts to simplify its operations.
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- May 24 2018
Australia’s CBA sells BoComm stake to Mitsui Sumitomo
The sale will fulfil a condition of the sale of its life insurance businesses in Australia and New Zealand to AIA.
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- May 9 2018
Australia’s AMP downplays reported China Life talks
The embattled Australian wealth manager has kept silent on reports that it is exploring a deal.
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- April 1 2018
XL Catlin appoints regional financial lines head
Jason Grant will focus on building the financial and professional risks portfolio and market presence in the region.
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- April 1 2018
CBA eyes sale of Indonesian life insurance business
Commonwealth Life could be valued at up to US$250 million as the Aussie bank bids to free up capital.
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- February 27 2018
QBE posts US$1.25bn net loss for 2017
The losses are attributed to claims from natural disasters and underperforming businesses in emerging markets.
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- February 22 2018
Risk culture still lacking in Asia – EY
Less than half of insurers across the region have developed a risk culture or risk conduct framework.
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- February 15 2018
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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- February 15 2018
IAG reviews Asian operations
The review comes after a sharp surge in its first half 2017 profits, owing to higher premiums.
