January 8, 2020
As the devastation from Australia’s bushfires widens, the insurance industry is calling for concerted action to mitigate the impact of climate change. Months of out-of-control fires have burnt an area more than five times the size of Wales and industry-wide …
November 1, 2019
Australia faces the prospect of more severe cyclones, wildfires and floods as the climate warms, the nation’s largest insurer said. A 3 degree Celsius increase in global temperatures will lead to higher intensity cyclones moving further south, longer bush fire …
June 20, 2018
Tokio Marine Holdings Inc. announced on June 19 it has entered into a definitive agreement to acquire Thailand and Indonesia insurance businesses of Insurance Australia Group Ltd. (IAG) for approximately A$525 million (42.8 billion Yen; $390 million) in cash. The …
April 20, 2018
Insurance Australia Group is set to sell its four Southeast Asian businesses in deals that could be valued at about $500 million, under a review of its Asian operations, three people with knowledge of the matter said. IAG, Australia’s biggest …
July 6, 2016
Berkshire Hathaway Specialty Insurance Co. (BHSI) announced it has launched a full suite of Accident & Health Insurance products in Australia and appointed Daniel Kenny as head of Accident & Health and Shaun Higgerson as senior underwriter, Accident & Health. …
October 16, 2015
When Insurance Australia Group, the country’s largest general insurer, announced ambitious plans in June to ramp up its business in Mainland China, several institutional investors including Jason Kim were seriously concerned. Kim, a portfolio manager at Nikko Asset Management which …
January 23, 2014
Insurance Australia Group Limited (IAG) announced an update to its guidance for the financial year ending 30 June 2014 (FY14) following a review of expected performance in the first half of the year. IAG said it “has revised its FY14 …
December 16, 2013
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 …
April 24, 2013
Insurance Australia Group Limited (IAG) has issued an update on its New Zealand business, and has outlined its strategy to maintain its position and deliver sustainable strong returns in that market. At a briefing in Sydney IAG Managing Director and …
December 14, 2012
Insurance Australia Group Limited has announced the sale of all its UK operations, following the strategic review process which it undertook in May 2012. IAG said it expects to carry out the sale in two separate transactions: “The Equity Red …