Latest Australia Headlines
All the headlines from our Australia Topic Page, ordered by recency.
IAG Fiscal ’06 Profit Off 13% to $655 Million
Aug 25 2006 // Insurance Australia Group Limited has released its earnings figures for the fiscal year 2006, which ended June 30. Overall profit for the year was A$862 million (US$655 million) compared to A$928 million (US$705 million)...
AXA Gives Donnet Greater Role in Japan, Asia-Pacific; Penn to Head Australia/NZ
Aug 17 2006 // France’s AXA Group has appointed Philippe Donnet to the position of AXA Group Regional CEO – based in Singapore – to oversee AXA’s principal insurance businesses in the Japan & Asia-Pacific...
New Lloyd’s Syndicate to Provide Amateur Sports Coverage
Aug 16 2006 // The old saying about necessity being “the mother of invention” also seems to hold true for the insurance industry. With the number of sports related injuries on the increase in the U.K. – there are an...
Lloyd’s Warns on Australian Stock Broker Coverage
Aug 14 2006 // Lloyd’s issued a bulletin warning that an Australian stock brokerage firm called The Armitage has been falsely claiming to have coverage from Lloyd’s. Lloyd’s said it “has become aware” that...
Guy Carpenter Names Carroll Sr. VP, Head of Broking for Australia, NZ
Aug 2 2006 // Guy Carpenter & Company, Inc., the global risk and reinsurance specialist of the Marsh & McLennan Companies, announced that John Carroll has joined the firm’s Sydney office as Senior Vice President and Head...
Best Rates Australia’s Guild ‘A-‘
Jun 26 2006 // A.M. Best Co. has assigned a financial strength rating of “A-” (Excellent) and an issuer credit rating of “a-” to Australia’s Guild Insurance Limited (GIL), with a stable outlook. “The...
Euler Hermes to Enter Australia, NZ Credit Market
Jun 22 2006 // Euler Hermes, the Paris-based international credit insurer, has signed a letter of intent with Lumley General Insurance to acquire its credit insurance activities in Australia and New Zealand. Euler Hermes’ bulletin...
Business Moves
Jun 19 2006 // Praetorian, Alea North America Specialty insurer Praetorian Financial Group agreed to acquire Alea North America Specialty Insurance Co., an affiliate of Alea Group Holdings Ltd. of Hamilton, Bermuda. The sale is subject...
Australian Company Selling Bogus Products in Kentucky, Being Investigated Elsewhere
Jun 9 2006 // An Australian company, Sinclair Insurance Co. Ltd. is selling amusement ride and professional liability insurance products in Kentucky without a certificate of authority from the state, according to the Kentucky Office of...
Benfield Corporate Risk Opens Australian Office in Perth
Jun 2 2006 // Benfield Corporate Risk, the corporate insurance and risk intermediary catering for the risk management and transfer needs of the corporate sector worldwide, announced the opening of its first office in...
Allianz Australia Joining Global Transport to Increase Sector Growth
May 31 2006 // Allianz Australia Insurance Group has taken an equity position in Global Transport & Automotive Insurance Solutions (GT), formerly Global Motor Underwriting, to “provide a market leading facility to service...
Australian Climate Study Finds Stronger Evidence of Global Warming
May 26 2006 // A report compiled by the Australian government’s Department of the Environment and Heritage – Australian Greenhouse Office, concludes: “Evidence that the Earth is warming has become much stronger since...
S&P Raises Ratings on Allianz Australia to ‘A+’
May 19 2006 // Standard & Poor’s Ratings Services announced that it has raised its insurer financial strength and counterparty credit ratings on Allianz Australia Insurance Ltd. to “A+” from “A” and it...
Australian Manufacturer CSR , Insurers Agree to Asbestos Settlement
Apr 25 2006 // CSR Limited, a large Australian building products manufacturer, has reached a settlement of asbestos litigation with a group of 48 Australian, United Kingdom and European insurers. Under the terms of the settlement each of...
Business Moves
Apr 17 2006 // Tower Group, CastlePoint Tower Group, Inc. in New York has entered into a strategic relationship with CastlePoint Holdings, Ltd., a Bermuda-based holding company that it has sponsored. CastlePoint has been capitalized with...
Fitch Affirms Insurance Australia Group’s Ratings
Apr 13 2006 // Fitch Ratings has affirmed the ‘AA-‘ (AA minus) Insurer Financial Strength ratings of Insurance Australia Group Limited’s main underwriting subsidiaries, Insurance Australia Limited and IAG New Zealand...
Assurex Global Adds New Partners in Europe and Pacific Rim
Apr 4 2006 // Columbus, Ohio-based Assurex Global has added new partners in Australia, Switzerland and Austria. OAMPS Insurance Brokers, Ltd. in Australia; GWP Insurance Brokers in Switzerland; and Assurance Partners Versicherungsmakler...
S&P Assigns IAG ‘AA-‘ Ratings
Mar 28 2006 // Standard & Poor’s Ratings Services announced that it has assigned its ‘AA-‘ long-term counterparty credit rating to Insurance Australia Group Ltd., with a stable outlook. “The rating reflects...
Crawford Handling Australian Claims
Mar 24 2006 // Crawford & Company announced that its Australia operation has activated its catastrophe plan in the wake of Cyclone Larry, the category five cyclone that struck Australia on Monday morning (See IJ Website March...
Larry Lashes Northern Australia
Mar 20 2006 // Tropical Cyclone Larry hit Northern Australia as a category 5 storm with winds of up to 290 kph (175 mph) the most powerful in memory. Larry came ashore near the town of Innisfail in the State of Queensland, about 100 kms...
