Latest Australia Headlines
All the headlines from our Australia Topic Page, ordered by recency.
Ratings Recap: Northbridge, Fondiaria, MGIC, Trust International, First Capital, St.Paul/Travelers (UK)
Oct 19 2007 // Standard & Poor’s Ratings Services has placed its ‘BBB’ counterparty credit and financial strength ratings on Northbridge Financial Corp.’s operating companies–Commonwealth Insurance Co.,...
Guy Carp Releases Impact Study on Australian Storm
Oct 12 2007 // Guy Carpenter & Company announced that its Instrat(R) unit has published a report on the impact of the powerful East Coast Low (ECL) pressure system that hit New South Wales in Australia between June 7-10, 2007. The...
Greenhouse Gas Emissions Already Exceed ‘Worst-case’ Scenario
Oct 10 2007 // Strong worldwide economic growth has accelerated the level of greenhouse gas emissions in the atmosphere to a dangerous threshold scientists had not expected for another decade, according to a leading Australian climate...
People and Places
Oct 8 2007 // Louisiana Workers’ Compensation Corporation (LWCC) promoted Jamie Bourg to claims manager for the company’s large accounts team. Bourg will manage and direct the claims department, including claims handling and...
People and Places
Oct 8 2007 // The National Association of Mutual Insurance Cos.(NAMIC) named SECURA Insurance President and CEO John Bykowski as the chairman of its board of directors during the association’s annual convention Sept. 16-19 at...
Business Moves
Oct 8 2007 // The Hanover, Professionals Direct The Hanover Insurance Group, Inc. reports it has completed the previously announced acquisition of Professionals Direct, Inc. for $23.2 million. Professionals Direct’s companies...
People
Oct 8 2007 // Louisiana Workers’ Compensation Corporation (LWCC) promoted Jamie Bourg to claims manager for the company’s large accounts team. Bourg will manage and direct the claims department, including claims handling and...
U.S. Risk Expands Brokerage Operations in Australia
Oct 3 2007 // Dallas, Texas-based U.S. Risk Insurance Group Inc., the seventh largest managing general agency and surplus lines wholesaler in the nation, expanded its operations by opening a brokerage operation in Sydney, Australia. The...
Suncorp FY Net up 16.2% to $877 Million; Promina ‘on Track’
Aug 28 2007 // Australian banking and insurance group Suncorp-Metway reported a 16.2 percent increase in net profit after tax to a record A$1.064 billion (US$877 million), which includes 15 weeks’ contribution from Promina, the...
S&P Reports on Australian P/C Insurers
Aug 16 2007 // A new report from Standard & Poor’s Ratings Services notes that “from October 2006 to August 2007, the Australian non-life [P/C] insurance industry underwent a deluge of activity that is changing the...
Berkley Names Robson to Head New Australian Re Operation
Aug 10 2007 // Berkley Insurance Company, a member company of W. R. Berkley Corporation, announced that it will be filing an application with the Australian Prudential Regulatory Authority (APRA) to establish a reinsurance branch in...
8 Dead, at Least 50 Injured in Australian Train/Truck Collision
Jun 6 2007 // A passenger train and truck collided at a rail crossing in southern Australia Tuesday, killing at least eight people and injuring up to 50, police said. Authorities suggested the death toll could go higher since rescuers...
Swiss Re Places A$750 Million Bonds
Apr 30 2007 // Swiss Re announced that it has successfully settled its first Australian dollar bond today with a perpetual subordinated step-up notes transaction, totaling A$750 million (US$620 million). Swiss Re noted that the...
Promina Shareholders Accept Suncorp-Metway Offer
Mar 7 2007 // Shareholders of Australian general insurer Promina Group Ltd. on Monday approved a proposed 7.4 billion Australian dollar ($5.75 billion) takeover by bank and insurance company Suncorp-Metway Ltd. Of the 8,922 shareholders...
Building Materials Firm Sued Over Australian Asbestos Compensation Plan
Feb 22 2007 // Australia’s corporate regulator has launched a civil suit against building materials giant James Hardie Industries NV for allegedly misleading investors about the cost of compensating victims of its asbestos...
Benfield Names Lazarus to Head Australia Facultative Solutions
Feb 13 2007 // Benfield, the independent reinsurance and risk intermediary, announced the appointment of Michael Lazarus as Head of the Group’s Facultative Solutions team for Australia, New Zealand and South Africa. He will be...
R&M Reports on Australian Insurers
Jan 29 2007 // Dublin-based Research and Markets announced the addition of Australian Insurance Industry: An Analysis to their offering. “This report is a detailed study about the Australian insurance industry and its various...
S&P Puts NZ’s Simply Insurance on CreditWatch
Jan 12 2007 // Standard & Poor’s Ratings Services has placed its “BB-” rating on Simply Insurance New Zealand Ltd. (SINZ) on CreditWatch with developing implications. “The CreditWatch placement follows...
Wis. General Casualty, Unigard Acquired by Australia-based QBE
Jan 5 2007 // Sun Prairie,Wis.-based insurer General Casualty, its U.S. holding company and sister company Unigard Insurance Group in Bellevue, Wash., are being acquired by Australia-based QBE Insurance Group in an agreement with...
Lee Named Assured Guaranty (UK) Asia Manager
Jan 4 2007 // Assured Guaranty Corp., a subsidiary of Assured Guaranty Ltd. announced that its London-based subsidiary, Assured Guaranty (UK) Ltd., has appointed Craig Lee as Managing Director, Asia Pacific, “responsible for...
