Insurance News

//Insurance News

Steadfast announces acquisition of Whitbread Insurance Group

  Steadfast Group (ASX: SDF) today announced that it has entered into an agreement to acquire Whitbread Insurance Group, a leading general insurance broker and strata-focused underwriting agency, for a price of $95 million. Whitbread Insurance Group WIB, established in 1978, is focused on the small-to-medium enterprise general insurance market with offices in Melbourne, Sydney and Brisbane. Axis, established in 1999, is a specialist underwriting agency focusing on niche areas of property and liability. The broking operation will join Steadfast Group’s

QBE Announces New CEO Pat Regan

Australian Insurer QBE has announced the appointment of Pat Regan as Chief Executive Officer, Australian & New Zealand Operations, effective 1 March 2017. Pat Regan joined QBE in June 2014 in the role of Group Chief Financial Officer, and became an executive director in October 2014. Prior to joining QBE, Patrick was the Chief Financial Officer at Aviva plc in London from 2010 to 2014 with responsibility for finance, strategy, investor relations and mergers & acquisitions.   Please note that any

Largest Travel Insurers

Zurich Agrees To Buy Australia’s Largest Travel Insurer

Zurich has agreed to buy Australia’s largest travel insurer Covermore for an estimated $741 million. Who is Cover-More? Started in 1986 in Sydney Covermore has around 40% of the travel insurance market share. In Australia, New Zealand and the United Kingdom, Cover-More travel insurance is underwritten by the Munich Re Group. Zurich Australia. In 2015 the insurer provided cover for 2.2 million travellers. “The sale of the company at a significant premium to market is an attractive outcome for shareholders,” Cover-More Chairman Louis Carroll said. Under

Customers Affected By Floods in Victoria and South Australia

Customers Affected By Floods in Victoria and South Australia Large sections of the Great Ocean Road are now open thanks to stabilisation and road clearing works #vicfloods pic.twitter.com/Q8PgxFEXBN — VicEmergency (@vicemergency) September 23, 2016 We're ready to help VIC & SA flood affected customers. Call our 24hr Claims Hotline:13 24 80 #VICFloods #SAFloods pic.twitter.com/Ow8AkM2aIk — CGU Insurance (@CGUInsurance) September 16, 2016 Have you been affected by the recent storms? See our website for more information: https://t.co/n93gCixIZ5

CGU General Insurer of the Year 2016

CGU named the General Insurer of the Year

CGU has been named the General Insurer of the Year CGU has been named the General Insurer of the Year award at the National Insurance Brokers Convention. This is the 2nd year in a row that the insurer has taken out this prestigious award, other finalist’s included Allianz and QBE. The NIBA General Insurer of the Year Award is considered to be Australia’s most prestigious industry award for insurers. This is because it is voted on by brokers all over Australia. They select

QBE Appoints

Mark Milliner reappointed as ICA President

Mark Milliner reappointed as ICA President The Board of the Insurance Council of Australia (ICA) have announced the return of Mark Milliner as President from July 1, 2016. Mark Milliner, who is IAG’s Chief Operating Officer, previously held senior roles at Suncorp, most recently as CEO Personal Insurance. He was a Director of the ICA Board from 2009 to 2015 and was President from 2012 to 2014. The appointment follows the retirement of Andy Cornish from the ICA Board. Mr Cornish, formerly Chief

New CEO at Zurich Australia Announced

New CEO at Zurich Australia Announced Tim Bailey, the CEO of Zurich Australia’s local Life and Investments division, has been named CEO of Zurich Australia. Prior to his appointment as Australian Life & Investments CEO, Tim held the roles of Chief Risk Officer and Head of Strategy of Zurich’s Global Life business. He has been with the Zurich Group for more than 15 years, in a variety of senior strategic and management roles, in the UK and globally. Tim is a qualified chartered accountant.   Arrange Quotes

Landlords Insurance

Steadfast Direct – Landlords Insurance

Steadfast Direct – Landlords Insurance Quotesonline can now offer Steadfast Direct Landlords Insurance quotes, the product offer exclusively to Steadfast Brokers through IAL. There are two Landlords products available: Steadfast Accidental Damage Landlords Policy Steadfast Listed Events Landlords Policy About IAL IAL is proudly backed by Insurance Australia Group (IAG) – the largest general Insurer in Australia and New Zealand, with a growing presence in Asia. Last year, IAG insured over $2 trillion worth of assets, collected $11.4 billion in premiums and paid out almost $9 billion in

Life insurer Zurich to buy life insurance business of Macquarie Group

Life Insurer Macquarie Group has announced that it is entered into an agreement to sell it’s life insurance Business to Zurich Australia Ltd. The transaction is subject to regulatory approvals, however it is expected to be completed in the second half of 2016, and Macquarie Life staff will transfer to Zurich as part of the acquisition. Greg Ward, Head of Macquarie’s Banking and Financial Services Group said: “Macquarie Life is a well performing business and has been recognised by the industry

Insurer IAG Announces 1st Half Results

  IAG has reported a 1H16 insurance profit of $610 million (1H15:$693 million) and an insurance margin of 14.9% (1H15:13.4%), representing a sound result despite challenging conditions in its core Australian and New Zealand commercial markets. Key financial indicators are: Insurance profit $610 million (1H15:$693 million) Reported insurance margin 14.9% (1H15:13.4%) Underlying insurance margin1 14.2% (1H15:13.3%) including a Berkshire Hathaway quota share positive effect of approximately 250 basis points (bps) Gross written premium (GWP) $5.5 billion (1H15:$5.6 billion) Net profit after tax $466 million (1H15:$579 million) Cash return on equity (ROE)

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