Australia News

LOMA Grants Kanbay “Excellence in Education” Award

Kanbay International, Inc., a global IT services firm focused on providing solutions to the financial services industry, announced that the company has been named a winner of the LOMA “Excellence in Education” Award. LOMA is an international association through which …

People

Atlanta-based Crawford & Co. has appointed Stephen Pratt vice president of Carrier Relations, Quality and Technical Claims; and David A. Lee has been named manager of its Little Rock, Ark., Claims Management Services branch. Pratt will be responsible for establishing …

People – Southeast

Stephen Pratt Atlanta-based Crawford & Co. has appointed Stephen Pratt vice president of Carrier Relations, Quality and Technical Claims; and David A. Lee has been named manager of its Little Rock, Ark., Claims Management Services branch. Michael Franzese Pratt will …

IAG Posts $571 Million Profit; Drop in 2nd Half Hits Shares; S&P Comments

Insurance Australia Group Limited (IAG) announced a net profit after tax of A$760 million (US$571 million) for its fiscal year ended 30 June 2005, a 14.3 percent rise over the A$665 million (US$500 million) it earned in fiscal 2004. The …

QBE Reports Record $375 Million 1st Half Profit

Australia’s QBE Insurance Group announced a record profit after tax of A$491 million (US$375 million) for the half year to 30 June 2005, an increase of 43 percent on the profit after tax of A$343 million (US$262 million) for the …

Insurer Says It’s Not Liable in Limp Bizkit Concert Death

An insurance company that issued a policy for rock band Limp Bizkit is asking a Los Angeles Superior Court judge to rule it has no liability for any damages awarded as the result of a teenage fan’s death at a …

S&P Affirms Allianz (Australia/NZ) Ratings; Revises Outlook to Positive

Standard & Poor’s Ratings Services announced that it has affirmed the long-term “A” insurer financial strength and counterparty credit ratings on Allianz Australia and its affiliate Allianz New Zealand, and has revised the rating outlook on the two companies to …

Safeco’s Mead Announces Retirement Plans Effective Dec. 31

Christine Mead, Seattle-based Safeco’s chief financial officer and president of Service, Technology and Finance, announced plans to retire effective Dec. 31, 2005. Mead joined Safeco in January 2002 as senior vice president and chief financial officer. Since then, Mead and …

S&P Assigns ‘BBB’ Rating to Australia’s EIG-Ansvar Ltd.

Standard & Poor’s Ratings Services announced that it has assigned its “BBB” financial strength and counterparty credit ratings to Australia-based nonlife insurer EIG-Ansvar Ltd. with a positive outlook. “The ratings on EIG-Ansvar Ltd. reflect its good stand-alone financial strength characteristics …

Allianz Cornhill CEO Warns Industry ‘Cannot Afford to Ignore Climate Change’

Andrew Torrance, CEO of Allianz Cornhill in the U.K., has explained why companies cannot afford to ignore the effects of climate change. As reported on the Allianz Group Website – www.allianz.com – Torrance stressed that changes in the world’s climate …