QBE's Acquistion of Elders Australian Insurance Business Complete

Australian insurer QBE has completed its acquisition of Elders Insurance business, Elders is Australia’s largest rural services company its publicly listed, the sale of of its insurance division to QBE is expected to generate $500 million in written premium for QBE in 2010 Insurance Products offered by Elders Insurance

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Insurance Premiums on the rise

Car and home insurance premiums have increased by as much as 30 per-cent as insurers look to recover from a year of heavy weather related claims. The National Insurance Brokers Association (NIBA) who’s members insure nearly 50 per-cent of the total insurance market in Australia has release the details of rise in premiums in nearly a third of personal insurance products. For business insurance

QBE Purchases Elders Insurance

Insurer QBE has purchased Elders insurance underwriting arm for $270 Million , in addition QBE will also pay $45 Million to buy 112.5 million Elders shares. The deal is expected to completed by September 30 subject to due diligence and regulatory approvals Elders  chief executive Malcolm Jackman says both parties will be working together to further develop the rural insurance operations. Arrange an Insurance Quote

Westpoint Investors can claim for losses through indemnity insurance

Westpoint investors have been given a chance to recover some of their losses from the investments they made in failed property group Quantum. The New South Wales Court of  Appeal will allow investors to claim against business insurer QBE Investors took out the indemnity insurance by financial planning firm Quantum Securities with QBE Australia Quantim has changed its name to Minox Securities Arrange an Insurance Quote Here The information provided by

Insurers have been able to push through above-inflation rate increases

HOME and car insurance premiums have risen strongly in the first six months of this year and commercial cover is beginning to emerge from the doldrums of low prices. But the home and car price increases are unlikely to have made much impact on the 2009 profits of the three major ASX insurers + Insurance Australia Group, Suncorp-Metway and QBE – with the benefits due to flow through into their next financial year. Price-cutting and attempts to grab market share have plagued

HIH collapse made Australian insurance industry stronger – QBE CEO

CEO Frank O’Halloran said the collapse of HIH Insurance, Australia’s second largest insurer, had insured that financial regulation was ” much more stringent” Talking to the QBE Irish offices, O’Halloran credits this for the Australian Insurers “got through the crisis as good as anyone around the world”. QBE insurance is one of the worlds top 20 non life insurers. He went on to explain QBE was looking for acquisitions in Europe and South America to grow business

Professional indemnity insurance premiums set to rise

Professional indemnity insurance premiums are set to rise as a result of a flood of claims from the global financial crisis, and the collapse of financial advisory firms. A rise in claims has been noted for mortgage brokers, financial planners, property valuers, architects, and engineers. The major insurers of professional indemnity include QBE, IAG, and Suncorp, insurers ar e tipping around a 7.5% increase in premiuims, but the increases for the occupations above could be higher.

To early for insurers to tally damages

AUSTRALIA’S major insurers are tallying claims from the worst natural disaster in Australia’s history but say it is too soon to estimate costs from the deadly bushfires. Suncorp Metway Ltd, Insurance Australia Group, AMP and AXA Asia Pacific Holdings said it was too early to assess the claim numbers and costs from Victoria’s devastating bushfires. As the death toll continued to mount, insurers said accurate numbers on claims would not be known for several days. Suncorp, Australia’s third largest general insurance group, has

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