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

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

Life Insurers Profit Drops by 25%

The latest Life Insurance performance statistics release by the Australian Prudential Regulation Authority (APRA) shows a decline in profit despite an increase in revenue. For the twelve months to 30 September 2013  the industry net profit after tax was $2.2 billion, a decrease of 26.5 per cent from the previous year’s profit of $3.1 billion.The September 2013 quarter profit was $441 million compared with the June 2013 quarter profit of $391 million(representing a 12.8 per cent increase) and

Life Insurer Asteron adds ‘Part of the Suncorp Group’ to logo

    Seven years after joining the Suncorp Group life insurer Asteron has added it to it logo, Asteron Life has been a specialist life insurance company for more than 175 years. Suncorp Group is the leading provider of general insurance, banking, life insurance and wealth management in Australia and New Zealand.   Click here for your insurance quotes   Please note Quotesonline Insurance

Business Cutting Back on Insurance

Insurance Australia Group chief executive Mike Wilkins has told that Australian companies are seeking lower premiums or are cutting cover, in what IAG see as sign of softning economic conditons. ”People are just very conscious of their expenses and I know for some businesses it’s tough,” Mr Wilkins said QBE, IAG and Suncorp – last week signalled softer rates of domestic growth in revenue from insurance premiums in the year to come.

Suncorp Profit Falls despite home insurance premium rise

Suncorp full-year profits is down to $274 million (from 491 million in 2012) despite a growth in its house insurance and car insurance premiums. A large portion of the loss has be attributed to its banking business, its life insurance and superannuation division earnings fell from $251 million to $60 million. Suncorps insurance brands include AAMI, Asteron Life and Vero Please note Quotesonline Insurance News is an

Does Landlord Insurance Cover Flood

Not all insurers offer flood cover with Landlords Insurance. AAMI, Suncorp and Vero are amongst the Australian insurers that  include it automatically. Allianz, CGU and Zurich offer optional cover. Before for purchasing check with the insurer’s product disclosure statement or ask your broker Click here for a Landlords Insurance Quote   Please note Quotesonline Insurance News is an information service provided by third

John Stringer Appointed as CEO RAC Insurance

RAC Insurance has appointed John Stringer as CEO, replacing Mike McCarthy who left in December. Mr Stringer joined the Western Australian based insurer in February 2011 as GM Claims and has more than 35 years’ experience in the industry, both in both broking and general insurance. He was most recently an EM at Suncorp subsidiary AAMI. Source Insurance News Please note Quotesonline Insurance News is an information service provided by third parties Insure 247 Australia doesn’t warrants the

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 2nd Half Profit Improves after drop in claims

Suncorp has reported an improvement in its overall result, recovering from record claims last year,  Suncorp’s full-year general insurance profit of A$493 million exceeded expectations for a profit of A$390 million This follows fellow Australian insurer QBE reporting a below forecast 13 percent rise in profit. Suncorp insurance brands include AAMI, APIA, Suncorp and Vero   Insurance Quotes Click Here Please note Quotesonline Insurance News is an information service provided by third parties Insure247 Pty Ltd

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