Latest Australia Headlines
All the headlines from our Australia Topic Page, ordered by recency.
S&P to Withdraw Swiss Re (Australia) Ratings Jan. 1
Dec 14 2004 // Standard & Poor’s Ratings Services announced that on Jan. 1, 2005, it will withdraw its “A”‘ insurer financial strength and counterparty credit ratings on Swiss Re Australia Ltd., a subsidiary...
Actuaries Address Concerns Over Professions Integrity
Dec 10 2004 // The actuarial profession in several countries is developing new rules and standards to affirm its integrity and competence to the public, said international representatives at the Casualty Actuarial Society (CAS) annual...
Gallagher Acquires Australian Broker FPE
Dec 3 2004 // Arthur J. Gallagher & Co. announced the acquisition of FPE Insurance Brokers Pty Ltd. of Sydney, Australia. The terms of the transaction were not disclosed. “First organized in 1993, FPE Insurance Brokers Pty...
FINEOS Enters Australian Market with CommInsure Sale
Dec 1 2004 // Dublin-based FINEOS Corporation, a leading provider of banking and insurance software, announced that CommInsure, the insurance arm of the Commonwealth Bank of Australia Ltd., is to deploy FINEOS Front Office to support...
S&P Rates IAG Notes ‘A-‘
Nov 22 2004 // Standard & Poor’s Ratings Services announced that it has assigned its “A-” issue rating to the A$500 million (U.S. $392 million) issue of Reset Exchangeable Securities (RES) by the New Zealand branch...
Best Affirms ACE Australia ‘A’ Rating
Nov 18 2004 // A.M. Best Co. announced that it has affirmed the financial strength rating of “A” (Excellent) of ACE Insurance Limited (ACEAU) (Australia) with a stable outlook. “The rating reflects ACEAU’s strong...
Best Announces Rating Actions on QBE Group
Sep 21 2004 // A.M. Best Co. announced that it has assigned an issuer credit rating (ICR) of “bbb+” to Australia’s QBE Insurance Group Limited, the non-operating holding company of the QBE group of companies. Best also...
DRI Australia Conferences on “Frivolous Lawsuits”
Aug 26 2004 // The Defense Research Institute, which groups some 22,000 defense lawyers, announced two upcoming conferences in Australia focused on the threat “frivolous lawsuits” may pose outside the U.S. The DRI noted that...
Karrie Webb Spins Cycle of Success
Aug 9 2004 // Australia may not be known in the United States as a hotbed for golf, but the country has not had a shortage of talented players over the years. One such person from Down Under who has made a name for herself on the links...
S&P Lowers Mercantile Mutual Rating
Jul 1 2004 // Standard & Poor’s Ratings Services announced that it has lowered its insurer financial strength and counterparty ratings on Australian insurer Mercantile Mutual Insurance Ltd. (MMIA) “A+” from...
FGIC Appoints Velins London Managing Director
Jun 11 2004 // Financial Guaranty Insurance Co. announced that Robert Velins has joined the company as Managing Director, International Finance, effective June 1. He is based in London and has primary responsibility for FGIC’s...
Australian Farmers Support Compulsory Fire Levy
Jun 11 2004 // A report from the Australian Broadcasting Corp. notes that The New South Wales Farmers Association has backed a proposal for council rate notices [property taxes] to carry a compulsory fire insurance levy. The article...
S&P Ups Outlook, Affirms Allianz Australia Ratings
Jun 3 2004 // Standard & Poor’s Ratings Services announced that it has revised the rating outlook on Allianz Australia Insurance Ltd. (Allianz Australia) and its associated company, Allianz New Zealand Ltd., to positive from...
MJM Investigations Notes Partnership in Australia
May 25 2004 // North Carolina-based MJM Investigations, an international private investigation firm providing innovative investigative solutions to the insurance industry, announced a new strategic partnership with Milne and Associates,...
Zurich to Sell Singapore Operations to Australia’s QBE
May 24 2004 // Zurich Financial Services Group announced that it has signed an agreement with Australia’s QBE Insurance (International) Limited for QBE to acquire 100 percent of the share capital of Zurich Insurance (Singapore)...
S&P Places Mercantile Mutual on CreditWatch-Negative
May 14 2004 // Standard & Poor’s Ratings Services announced that it has placed its “AA-” counterparty credit and insurer financial strength ratings on Mercantile Mutual Insurance (Australia) Ltd. “on...
Stokholm to Resign as Zurich Australia CEO
May 13 2004 // Zurich Financial Services Group announced that Gunnar Stokholm, 55, will resign at the end of 2004 and has stepped down effective immediately from his position as Chief Executive Officer of Australia and Other...
ING Posts Q1 Gains in all Sectors Gains; Will Sell Australian Business to QBE
May 13 2004 // Holland’s ING Group made a strong start for 2004, announcing a 32 percent rise in operating net profits to 1.191 billion euros ($1.41 billion) or 57 euro cents ($0.67) per share. Overall net profits increased to...
S&P Revises AMP Outlook to ‘Stable’
Apr 21 2004 // Standard & Poor’s Ratings Services announced that it has revised the rating outlook on Australian insurer AMP Ltd.’s key operating subsidiaries and holding company to stable from negative. S&P also...
Australia’s IAG Warns on Changing Weather
Apr 7 2004 // Insurance Australia Group Ltd. (IAG) chief executive Michael Hawker warned that global warming seems to be leading to an increased incidence of high-cost storms and floods in Australia and New Zealand. Hawker made the...
