Australia on Friday gave the go-ahead for ANZ Group’s A$4.9 billion ($3.26 billion) buyout of Suncorp’s banking business, clearing the deal to proceed after almost two years of scrutiny by financial regulators and treasury. Treasurer Jim Chalmers said the deal …
BMS Australia, the London-based specialist insurance and reinsurance broker, announced the launch of its Agriculture business with Ceri Martin appointed to lead the division. The establishment of this new business is part of BMS’ global strategy to deepen its expertise …
Coalition, the San Francisco-based cyber managing general agent and cyber-security firm, announced it entered the excess cyber insurance market in Australia, enabling businesses to add a layer of risk management to their cyber towers. Australian brokers can now sell coverage …
Everest launched its Australian Insurance operations after receiving approval from the Australian Prudential Regulation Authority. The business will operate under the name Everest Insurance Australia with offices in Sydney and Melbourne. Christian Colombera, managing director, Australia and head of the …
Ardonagh Group, the London-based independent insurance distribution platform, announced it has agreed to acquire Australia’s PSC Insurance Group Ltd., in a deal valued at A$2.3 billion (US$1.5 billion). PSC is a diversified insurance services group that operates brokerage businesses and …
Arthur J. Gallagher & Co., the Rolling Meadows, Illinois-based broker, announced the acquisition of Melbourne, Victoria-based Health Insurance Consultants Australia (HICA). Terms of the transaction were not disclosed. HICA is a specialist health insurance consultancy and brokerage firm serving corporate …
Uber agreed to pay A$271.8 million ($178 million) to compensate thousands of taxi drivers in Australia who claimed they lost income when the ride-share company entered the local market. Uber Technologies Inc. settled the class action brought by more than …
Increasing numbers of Australians are abandoning their insurance policies as premiums surge in response to climate-linked natural disasters, the head of the Insurance Council of Australia said. Over a million households now face home insurance affordability stress, Andrew Hall said …
Coalition, the San Francisco-based cyber managing general agent and cyber-security firm, launched its suite of Active Cyber Insurance products in Australia. Active Cyber Insurance works with organizations to help them understand their cyber risk profiles, improve their defenses, and, ultimately, …
Australian inflation is being driven by climate change, geopolitical shocks and government policies — factors typically beyond the Reserve Bank’s control. Yet economists still anticipate it will have to respond with monetary tightening as soon as next week. In a …
