QBE Insurance Group Ltd., Australia’s second-largest insurer by market value, climbed to its highest level in more than two months on plans to increase premium rates and bring its North American unit back to profit this year. Shares in the …
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 Australia. Wesfarmers will record a pretax profit of as much as A$750 …
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 …
QBE Insurance Group Ltd., Australia’s second-largest insurer by market value, plunged the most in 12 years after forecasting an unexpected loss due to write-downs at its North American operations. The company predicts a $250 million loss for the year to …
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 Perth-based Wesfarmers about an acquisition of …
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 million) in the year ended June …
Suncorp Group Ltd., an Australian lender and insurer, posted a 32 percent decline in full-year profit in line with its guidance last month. Net income for the year to June 30 was A$491 million (US$443 million) compared with A$724 million …
QBE Insurance Group Ltd., Australia’s largest insurer by market value, posted a 37 percent fall in first-half net income as premiums fell in North America and it set aside more for unresolved claims. Net income dropped to $477 million in …
Australia’s QBE Insurance Group said on Thursday its 2011 net profit would fall by as much as 50 percent after record catastrophe claims and it would cut its final dividend, sending its shares down as much as a quarter to …
Citigroup Inc. said computer hackers breached the bank’s network and accessed the data of about 200,000 bank card holders in North America, the latest of a string of cyber attacks on high-profile companies. Citi said the names of customers, account …
