Latest Australia Headlines
All the headlines from our Australia Topic Page, ordered by recency.
Guy Carpenter Appoints Carless to Lead Pacific Operations
Mar 17 2006 // Guy Carpenter & Company Inc., the leading global risk and reinsurance specialist and a part of the Marsh & McLennan Companies, announced the appointment of Ray Carless as Executive Chairman of its Australia, New...
S&P Survey of Australia NZ Market Notes M&A Activity; Rating Changes
Jan 16 2006 // Standard & Poor’s Ratings Services has issued a report which notes: “Rating actions picked up noticeably in Australia and New Zealand in 2005, as merger and acquisition (M&A) activity intensified and...
Best Affirms QBE’s Key Operating Subsidiaries ‘A’ Ratings
Jan 12 2006 // A.M. Best Co. announced that it has affirmed the financial strength rating of “A” (Excellent) and issuer credit rating (ICR) of “a+” of the following subsidiaries of Australian insurer QBE: QBE...
Vietnam’s BIDV Bank to Acquire QBE’s Insurance Co. Stake
Jan 9 2006 // The Bank for Investment and Development of Vietnam (BIDV) has reportedly agreed to purchase all the stock held by Australia’s QBE Insurance Group in their joint-venture insurance company. As reported by Asia Pulse on...
Australian Bushfires Rage Uncontrolled
Jan 3 2006 // A series of bushfires during the hot Australian summer – temperatures well above C40°(F102°) – have destroyed more than a dozen homes north of Sydney, and are threatening hundreds more. The BBC reported that...
S&P Revises Outlook on ACE, Australia & NZ to Stable
Nov 30 2005 // In line with its announcement on ACE Ltd. (See above article), Standard & Poor’s Ratings Services announced that it has also revised its outlook to stable from negative on its “A” counterparty credit...
Arthur J. Gallagher & Co. Purchases InterPacific Underwriting Agencies Pty of Australia
Nov 1 2005 // Arthur J. Gallagher & Co. announced the acquisition of InterPacific Underwriting Agencies Pty Ltd of Sydney, Australia. Terms of the transaction were not disclosed. Founded in 1997, InterPacific Underwriting Agencies...
New Report Gives Tips for Railroad Transport Insurers
Oct 11 2005 // With costs for energy rising, there may be renewed interest in shipping by more by rail and less by truck when considered economically viable, according to a new report by the Inland Marine Underwriters Association (IMUA)...
Australian P/C Insurers Credit Quality Remains Strong Says S&P
Sep 6 2005 // Standard & Poor’s Ratings Services has issued a statement indicating that “credit quality among the nonlife insurance players in Australia should remain strong over the next couple of years, supported by...
QBE Reports Record $375 Million 1st Half Profit
Aug 17 2005 // Australia’s QBE Insurance Group announced a record profit after tax of A$491 million (US$375 million) for the half year to 30 June 2005, an increase of 43 percent on the profit after tax of A$343 million (US$262...
S&P Affirms Allianz (Australia/NZ) Ratings; Revises Outlook to Positive
Aug 12 2005 // Standard & Poor’s Ratings Services announced that it has affirmed the long-term “A” insurer financial strength and counterparty credit ratings on Allianz Australia and its affiliate Allianz New...
S&P Assigns ‘BBB’ Rating to Australia’s EIG-Ansvar Ltd.
Aug 9 2005 // Standard & Poor’s Ratings Services announced that it has assigned its “BBB” financial strength and counterparty credit ratings to Australia-based nonlife insurer EIG-Ansvar Ltd. with a positive...
Crash Risk is Four Times Higher When Drivers Use Cell Phones, Study Says
Aug 8 2005 // Common sense as well as experience suggest that handling and dialing cell phones while driving compromise safety, and evidence is accumulating that phone conversations also increase crash risk. New research from the...
Australian Insurers Adopt New Practice Code, Raising Consumer Expectations
Jul 25 2005 // A recently-launched new Code of Practice for the Australian insurance industry will mean general insurers will meet higher, measurable performance standards for dealing with customers, including settling claims in specific...
Crash Risk is Four Times Higher When Drivers Use Cell Phones, Study Says
Jul 12 2005 // Common sense as well as experience tell us that handling and dialing cell phones while driving compromise safety, and evidence is accumulating that phone conversations also increase crash risk. New research from the...
Australian Insurers Back Mandatory Smoke Detectors
Jun 13 2005 // A proposal by the government of New South Wales that would make the installation of smoke detection devices in homes mandatory has received the backing of the Australian insurance industry According to a report in The...
PMI Australia Names Odland Director
Jun 3 2005 // The Calif.-based PMI Group Inc. has announced the appointment of Lynn Odland as an independent director to the PMI Australia Group Boards. The PMI Australia Boards include PMI Holdings (Aust) Pty Ltd., PMI Mortgage...
Best Affirms Ratings of New Zealand’s Tower Insurance; Outlook Stable
Jun 2 2005 // A.M. Best Co. announced that it has affirmed the financial strength rating of “A-” (Excellent) of new Zealand’s Tower Insurance Limited and the issuer credit rating (ICR) of “bbb-” of Tower...
S&P Analysis of Australia P/C Insurers
May 17 2005 // Standard & Poor’s has published an analysis of the current state of the Australian P/C industry. The rating agency noted: “The softening insurance cycle has entrenched itself in commercial lines in...
Australian Regulator Seeks Closer Scrutiny Over Insurers
May 3 2005 // The Australian Prudential Regulation Authority (APRA), which regulates the country’s insurance industry, is proposing tighter reporting requirements in order to enable the regulator to more closely scrutinize the...
