The devastating floods in Queensland state that forced evacuation in Brisbane, Australia’s third-largest city, are expected to be a near $1 billion event for insurers, though reinsurance is seen covering more than half of it. That would mean the flood …
Australia’s competition regulator has again blocked National Australia Bank’s $12 billion bid for AXA Asia Pacific, dealing a blow to NAB’s 9-month efforts to cement its dominance in the world’s fourth-largest wealth management market. The ruling sent AXA Asia Pacific’s …
National Australia Bank, which has seen its $13 billion takeover bid for AXA Asia Pacific Holdings Ltd blocked by the competition regulator, is preparing to sell some assets to appease the government watchdog, two sources said. NAB, staring at an …
The aircraft leasing unit of bailed-out insurer American International Group has agreed to sell 53 passenger jets to Australia’s Macquarie Group to raise a much-needed $2 billion in cash. International Lease Finance Corp. (ILFC), a top customer of Boeing and …
Tower Australia Ltd will be interested in buying the “well-run” Australian business of AIA if it comes up for sale, as it moves into the fast-growing group insurance sector, Tower’s chief executive said on Thursday. “It is something we will …
Australia’s No.2 wealth manager AMP Ltd signaled on Thursday that it had room to improve its $11.6 billion bid for AXA Asia Pacific, but said it had yet to decide on its next move. AMP is in a bid battle …
Australia’s competition watchdog raised concerns on Wednesday over National Australia Bank’s (NAB) $11.6 billion bid for fund manager AXA Asia Pacific, tipping the scales toward rival bidder AMP. NAB, already the country’s largest manager of retail funds, is bidding against …
Life insurer and fund manager AXA Asia-Pacific Holdings Ltd expects to report a forecast-beating profit for 2009, putting pressure on rival bidders to raise their offers in a $12 billion battle for the company. AXA Asia-Pacific, which is being circled …
