Country: Australia Page 1 / 5
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- September 5
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
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
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
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
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
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
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
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 24
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
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
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
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
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
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
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
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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- February 13
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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- January 25
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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- January 15
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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- December 15 2017
Chubb makes leadership changes in Asia Pacific
John French named head of broker distribution and Jarrod Hill as country president, Australia and New Zealand.
