Latest Australia Headlines
All the headlines from our Australia Topic Page, ordered by recency.
Aon Benfield Securities Places $250 Million Cat Bond for QBE’s VenTerra Re
Jan 7 2014 // Aon Benfield Securities, the investment banking division of global reinsurance intermediary and capital advisor Aon Benfield, announced that it has successfully underwritten and placed a $250 million catastrophe bond...
Australia Swelters from Record Heat Wave; Bushfire Warnings Issued
Jan 3 2014 // A searing heat wave is baking central and northern Australia, piling more misery on drought-hit cattle farmers who have been slaughtering livestock as Australia sweltered through the hottest year on record in...
Tropical Cyclone Christine Hits Australia’s Pilbara Coast: AIR Worldwide Analysis
Jan 2 2014 // Catastrophe modeling firm AIR Worldwide reports: “Severe Tropical Cyclone Christine made landfall at approximately 1200 UTC on December 30 between Whim Creek and Roebourne. Maximum sustained wind speeds were 157 km/h...
Strengthening Cyclone Sets Path for Australia’s Iron Ore Mines
Dec 30 2013 // A tropical cyclone intensifying off northwestern Australia was on course to sweep across some of the world’s largest iron ore mines after causing giant shipping ports to close. Iron ore prices rose on Monday as...
IAG to Buy Wesfarmers Insurance Business for A$1.85 Billion
Dec 16 2013 // Insurance Australia Group Ltd. agreed to buy Wesfarmers Ltd.’s insurance underwriting businesses in Australia and New Zealand for A$1.85 billion [US$1.653 billion] to become the largest insurer in...
QBE Bond Risk Surges as U.S. Expansion Sours: Australia Credit Risk
Dec 13 2013 // Bond risk on QBE Insurance Group Ltd. halved in the first 11 months of the year before surging this month as the company said it would lose money. Credit-default swaps on QBE have climbed 41 basis points since Nov. 30 to...
TPP Trade Pact Misses Deadline as More Talks Planned for January
Dec 10 2013 // Ministers negotiating the 12-nation Trans-Pacific Partnership trade pact said today they would miss a year-end deadline to complete the deal. “We identified potential landing zones for the majority of key outstanding...
IAG Said to Consider Bidding for Wesfarmers Insurance Unit
Dec 6 2013 // Insurance Australia Group Ltd., the nation’s biggest car and home insurer, is studying a bid for Wesfarmers Ltd.’s insurance unit, according to three people with knowledge of the matter. IAG is in talks with...
Willis Places Innovative Australian Weather Transaction for Roy Hill
Dec 3 2013 // Willis Group Holdings announced the placement of “an innovative derivative-based risk transfer solution to protect Roy Hill Holdings Pty Ltd, an emerging global mining, rail and port venture, against the threat of...
Ironshore Australia Launches Marine Unit to Cover Fine Art, Specie, Cargo Classes
Nov 19 2013 // Ironshore Australia has entered the fine art, specie and cargo insurance sectors in Australia through the creation of a new marine unit. Ironshore’s team will focus on underwriting a range of both static and transit...
AIR Reports on New South Wales Bushfires; State of Emergency
Oct 23 2013 // Bushfires that started last week in the Australian State of New South Wales have been exacerbated by hot, dry, and windy conditions spread across the state, where authorities declared a state of emergency on Sunday....
Wildfire Emergency Declared in Australia State as Homes Lost
Oct 21 2013 // Australia’s most populous state declared an emergency as wildfires tore through bush land west of Sydney, destroying hundreds of homes and threatening mountain townships. New South Wales State Premier Barry...
Bushfires Destroy Properties in Sydney Region; One Reported Death
Oct 18 2013 // Firefighters battled to contain bushfires that damaged or destroyed hundreds of homes in the Sydney region as authorities warned Australia’s most-populous state faces hazardous conditions for months to come. A...
Australia Weather Bureau Forecasts up to 11 Cyclones in Storm Season
Oct 15 2013 // Australia can expect an average cyclone season with up to 11 tropical storms, four of them severe, in the next six months, the Bureau of Meteorology forecast said on Monday. Australia’s cyclone season runs from Nov....
Aon Benfield Launches its 13th Hazards Conference in Australia Next Week
Sep 16 2013 // Aon Benfield, the global reinsurance intermediary and capital advisor of Aon plc is hosting its 13th Biennial Hazards Conference in Australia next week from the 22nd to the 24th of September with the theme of “Think...
IAG Profit More Than Triples as Natural Disaster Claims Fall
Aug 22 2013 // Insurance Australia Group Ltd., the nation’s biggest car and home insurer, reported full-year net income more than triple a year earlier as claims fell and premiums rose. Net income rose to A$776 million ($697...
Willis Re Bermuda Names Harden as New CEO
Aug 6 2013 // Willis Group Holdings announced that Michael Harden, currently Chairman of Willis Re Australia, has been appointed CEO of Willis Re Bermuda, effective January 1, 2014 Harden described his new assignment as a “great...
Catlin Launches Next Seaview Survey for Caribbean, Bermuda Coral Reefs
Jul 31 2013 // Catlin Group Limited announced the launch of its next “Seaview Survey,” which it described as a “significant expansion of its study of coral reefs with a new campaign in the Caribbean and Bermuda.”...
ACE Names Sullivan Chairman-Asia Pacific; Ortega, McNamee in New Posts
Jul 19 2013 // The ACE Group has named Damien Sullivan as chairman of the company’s Asia Pacific region. He is currently the region’s president. As chairman he will focus on governance, strategic planning and senior customer...
Guy Carpenter Facilitates Launch of Multi-Peril Crop Insurance in Australia
Jul 10 2013 // Guy Carpenter & Co., LLC, a global risk and reinsurance specialist and member of Marsh & McLennan Cos. has facilitated the launch of a Multi-Peril Crop Insurance (MPCI) product for Australian grain growers for the...
