Country: Australia Page 19 / 87
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- February 26 2024
Suncorp’s H1 net profit up 5.4% on strong consumer business growth, investment gains
Its first-half GWP rose 16%, while COR edged up 95.7%. CEO Steve Johnston expects inflation to remain a challenge this year.
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- February 26 2024
NSW to focus on mitigation as annual nat cat bill expected to soar to US$6bn by 2060
The State Disaster Management Plan includes measures to reduce communities’ exposure and vulnerability to disasters through awareness and preparedness campaigns, and it has set an end-2024 deadline to review levy arrangements.
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- February 21 2024
Arch Insurance Australia expands property team with Vero hire
The carrier has hired Brendon Terry as national underwriting manager for property.
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- February 21 2024
PSC Insurance upgrades full-year guidance after 39% rise in H1 bottom line
The Melbourne-based global broking group saw strong performance in its distribution business in Australia, offsetting the small decline recorded by its existing UK business.
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- February 20 2024
AUB upgrades earnings guidance as H1 FY 2024 pre-tax profits grow 18.3%
A doubling of underlying net profit after tax in its underwriting agencies and New Zealand businesses bolstered the Australian broker's results.
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- February 20 2024
Australia’s competition tribunal greenlights Suncorp’s US$3.2bn bank sale to ANZ
After the deal, which is now expected to be completed by mid-2024, Suncorp will remain a dedicated insurance group headquartered in Brisbane.
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- February 19 2024
Gallagher Australia acquires Perth-based mining specialist
Ansin Insurance Brokers, founded by former Gallagher executive John Li, will join the broker's Perth office following the deal.
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- February 16 2024
ICA declares Victoria Valentine’s Day storms ‘significant event’ with claims set to cross 10,000
Insurers have reported a large uptick in claims over the past day, with 9,947 claims lodged related to the storms, which saw around 530,000 homes left without power across the state.
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- February 16 2024
QBE FY 2023 GWP rises 8% on higher premium rates
Net profit more than doubles for the full year of 2023, although still missing analysts' expectations. Its COR improved marginally to 95.2%.
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- February 16 2024
IAG’s H1 2024 underwriting profit up 24% to US$211m , COR improves to 92.8%
The insurer's GWP grew 12.5% on premium increases and strong New Zealand business, but its net profit fell 13% year-on-year.
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- February 16 2024
Queensland’s CS Energy sues five insurers for US$195m claims from explosion: report
Insurers, including AIG, Allianz, BHSI, Liberty Mutual and Lloyd's syndicates, were named by a unit of the state-backed power company for failing to pay out claims related to a 2021 explosion, according to an AFR report.
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- February 14 2024
Tasmania puts fire tax reforms on hold: reports
Insurance Council of Australia called the move “profoundly disappointing” and unfair, as the fire service levy adds up to 28% to the cost of a diverse range of commercial policies.
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- February 14 2024
Australia Christmas storms losses at US$906m: Perils
The initial estimate includes losses from damages of property and motor hull lines of business and will be updated on March 29, 2024.
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- February 14 2024
Storms in Victoria leave half a million homes, businesses without power: reports
Strong winds and lightning caused widespread damage to the power infrastructure in Australia's second-most populous state.
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- February 9 2024
WTW expands Australasia fac team with Guy Carpenter hire
Sydney-based Michael Lazarus will join the broker's facultative team in Australasia as associate director
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- February 9 2024
BHSI strengthens Australia A&H team with senior hire
The specialty (re)insurer has appointed David Foote as executive underwriter, accident & health.
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- February 9 2024
Envest merges three insurance brands to create an SME specialist
The Australian broking group brings together Fitzpatrick & Co, Arete Risk and Amicus to create a full-service insurance broker with specialist SME and corporate focus.
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- February 9 2024
Pacific Prime makes Australia foray with senior hire
The broker has appointed Melbourne-based Honan Financial veteran Michael Atta as head of employee benefits.
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- February 8 2024
Marsh elevates Craig Claughton to finpro chairman for Pacific
Sydney-based Claughton was most recently head of financial and professional lines for the broker.
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- February 6 2024
Berkley Re names treaty manager for Australia & New Zealand
Sydney-based Heath Sinclaire will enhance the firm's relationships with cedents and brokers, focusing on the casualty reinsurance sector.
