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Insurers Reporting Mixed Results

With half yearly profit reporting season in full swing the fortunes for our leading insurers vary, here is summary of some of the results. Insurance Australia Group (IAG) half-year profit jumps 39% with improved performances from each of its businesses in Australia, New Zealand and Asia. IAGs brands in Australia include CGU, NRMA Suncorp, Australia’s largest general insurer by market value with brands like AAMI, GIO and Vero. They group has said its general insurance claims expense increased 12 percent to A$3.2

Australian Insurance Industries $2.8 billion Profit Last Year

The top ten insurers in Australia account for nearly 80 per cent of the sector’s $2.8 billion in profit last year, official figures show. At the same time, some 23 insurers operating in Australia, including offshore majors Zurich, Warren Buffet-backed General Re and online specialist Progressive Direct delivered a loss last year. Figures released by the Australian Prudential Regulation Authority give a comprehensive snapshot on the nation’s 106 regulated insurers. They also provide financial details of separate insurance brand, as opposed to

Suncorp Insurance Cost Rise

Suncorp Insurance has been hit with massive increases in costs in the current financial year, due to the continuous string of natural disasters in the country. The Queensland based company ranked fifth in Australia’s banks, is currently already $250 million over its expected cost of $460 million for natural disasters and hazard costs. The end of April saw the balance sheet hit over $700 million with 2 months worth of claims remaining. This financial year the company has had

How To Save Money On Car Insurance in Australia

1) Compare Car Insurers Most car insurers know that once they have a client its rare for that client to compare their policy for up to seven years, so the best way to save money is to compare every year. 2) Don’t  be young Drivers under 25 are a huge risk for insurers, regardless of the clean driver record of the primary driver. Insurers will charge up to 3 times the normal premium for under 25’s and the excess in the event of claim is

National Transport Insurance appoints new BDM

Sheree Hewson has been appointed as National Transport Insurance’s new Business Development Manager for North Queensland. Hewson has prior experience servicing both rural and metropolitan areas as a Business Development Manager for GIO. Please note Quotesonline Insurance News is an information service provided by third parties Insure 247 Australia doesn’t warrants the accuracy of any information contained there in, readers should make their own enquiry’s before relying on information in the stories Terms of Service

Suncorp restructuring

Jordan Hawke has been appointed as EGM to lead Suncorp Life’s IFA Distribution as part of the restructuring program to align the business behind a new simplified business model, aimed at doubling new business in three years by focusing on two distribution channels. Suncorp Life CEO Geoff Summerhayes unveiled the new business model and structure to the market at the UBS Investor Conference in Sydney.  Summerhayes said “Suncorp Group, from the Board down,

Hawke appointed as Asteron’s new EGM

Suncorp Life CEO Geoff Summerhayes has announced Jordan Hawke will be Executive General Manager Asteron, leading the business’s IFA Distribution. Suncorp To visit Suncorp click here Suncorp Insurance Brands \  Suncorp Life Insurance Brands Free Life Insurance Quote Please note Quotesonline Insurance News is an information service provided by third parties Insure 247 Australia doesn’t warrants the accuracy of any information contained there in, readers should make their own enquiry’s before

Another sports arena for AAMI insurance

Insurance News .com.au reports that AAMI insurance “has signed a deal to secure the naming rights over Melbourne’s new rectangular sports stadium for the next eight years.” The stadium, due to open on May 7 and situated in the middle of Melbourne’s sports district, will apparently be known as AAMI Park. In Adelaide, AAMI also has naming rights to the city’s Australian Football League venue called AAMI Stadium while Brisbane’s main arena at Lang Park is named Suncorp

Suncorp responds to flood of insurance claims

To cope with the demand for insurance service staff following storms in Victoria and ongoing wet weather in Queensland, Suncorp has increased the number of claims staff, assessors and other support staff helping their customers. Suncorp’s insurance brands including AAMI, Apia, GIO and Vero have put necessary measures in place to speed up the claims process. As at 8 March, the Suncorp Group had received about 12,500

Car Insurance in Australia

Australian car insurers are generally divided into two groups, direct insurers and general insurers who also offer their products through brokers. Direct Insurers AAMI, Budget Insurance, GIO,  NRMA, Real Insurance, RAC, RACQ, RACV, SGIC, SGIO, Shannons, Youi, General Insurers Allianz, AMP, Comminsure, CGU, ING, QBE, Suncorp, Vero, Zurich Click here to get free car insurance quotes

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