Axa funds under management drop 11% as markets bite
28 July 2008
Troubled financial markets continue to affect the operating results of Axa Asia Pacific, which has recorded a first-half dip of 13% in total group funds under management...
Corporate
Tower Australia rating revised upward
28 July 2008
Standard and Poor’s has lifted the outlook for life insurance specialist Tower Australia from stable to positive...
Fitch downgrades IAG’s outlook
21 July 2008
Fitch Ratings today affirmed the financial strength rating of IAG at AA-, but downgraded its outlook from stable to negative...
Suncorp gets A+ on S&P report card
21 July 2008
Suncorp has scored an A+ in its latest credit rating from Standard & Poor’s, which credits the bancassurer with astute management in adverse trading conditions...
Zurich revitalises Global Corporate in Australia
21 July 2008
Zurich Financial Services has increased its investment into insurance and risk management service Global Corporate, targeting Australian and New Zealand corporates worth more…
Chile next in line for QBE
21 July 2008
QBE is keeping an eye out for its next acquisition in Latin America as it exceeds expectations in four countries south of the US border...
Centrepoint Alliance renews core funding with NAB
21 July 2008
Insurance premium funder Centrepoint Alliance has completed the renewal of its primary funding lines with a $270 million finance package from the National Australia Bank...
Wesfarmers takes on Guidewire platform
21 July 2008
Wesfarmers Insurance Division and its subsidiary Lumley NZ are the latest to move across to Guidewire software...
AMP moves staff north
21 July 2008
AMP staff in Wellington have been told their jobs are being relocated to Auckland by the financial services company’s NZ managers...
Market unimpressed as IAG shakes its own foundations
14 July 2008
IAG’s announcement last week of its biggest shake-up since it was formed has done little to lift its stalled share price...
IAG will lose on UK asset sales
14 July 2008
IAG will probably take a hefty loss when it sells many of its UK insurance assets, according to the London online newsletter Insurance Times...
Axis launches local operations
14 July 2008
Axis Specialty Australia has formally launched its local operations, signalling the end of its role as a direct offshore foreign insurer through parent company Axis Capital...
CGU roles up for grabs as West shuffles the pack
07 July 2008
CGU executives are being forced to reapply for their jobs in a radical reorganisation of the insurer’s management structure...
QBE acquires Underwriting Agencies of Australia
07 July 2008
QBE has continued its program of acquisition with the purchase of mobile plant and equipment specialist Underwriting Agencies of Australia...
IAG puts UK businesses on the table
07 July 2008
IAG is considering offloading its under-performing British motor businesses, according to reports in the UK trade press...
Zurich Australia names new chairman
07 July 2008
Former leading broker Terry Paradine is the new Chairman of Zurich Financial Services Australia...
QBE receives ratings boosts
07 July 2008
Standard & Poor’s has affirmed QBE’s key ratings and upgraded its recent US acquisitions Praetorian and Winterthur...
Wesfarmers Insurance Division evades gas crisis
30 June 2008
Wesfarmers Insurance Division has escaped the fate of the group’s other arms after the explosion at Varanus Island earlier this month which imperilled WA’s energy supplies...
Zurich signs soccer sponsorship
30 June 2008
Zurich has renewed its sponsorship of soccer’s Hyundai A-League for another three years...
Suncorp’s record growth triggers new branch
30 June 2008
Suncorp has opened its sixth branch in Melbourne after growing its Victorian customer base by 60% in five years...