Australia News

QBE Names Fagen as Group Chief Strategy Officer; Plant Is Promoted

Sydney, Australia-headquartered QBE has appointed Colin Fagen as group chief strategy officer, in a new role “designed to create a strong platform for growth across the group,” according to Group Chief Executive John Neal. Fagen is currently chief executive officer …

Beazley Launches New Insurance Product for Australian Expat Workers

Specialist insurer Beazley has launched Expatriate Medical and Emergency Evacuation, a new tailored insurance solution for Australian employees who live and work overseas. The product combines elements of both health and travel insurance to provide comprehensive coverage for expats based …

Beazley Launches Business Travel Insurance in Australia

Specialist insurer Beazley has launched its first international business travel insurance product in the Australian market. Beazley Corporate Travel Insurance will be offered to Australian brokers and coverholders. Beazley Corporate Travel Insurance provides specialist cover for business travelers, such as overseas …

DUAL Australia Launches Suite of Marine Products with New Team

DUAL, the underwriting arm of the Hyperion Insurance Group*, has announced the continued expansion of its global marine and energy practice following the launch of a marine offering at DUAL Australia Pty Ltd. DUAL Australia will now offer a suite …

Zurich Australia Appoints Seales as COO, General Insurance

Zurich Australia has appointed Raelene Seales as its new chief operating officer, General Insurance. Seales, who is currently head of Wrap and SMSF Platforms with ANZ, will replace Shaun Feely in the COO role. Feely has made significant contributions since …

Berkshire Hathaway to Buy Stake in IAG to Boost Australia Insurance Sales

Warren Buffett’s Berkshire Hathaway Inc. will pay A$500 million ($388 million) for a stake in Insurance Australia Group Ltd. as part of a plan to expand in the region. The agreement will give Berkshire 20 percent of IAG’s insurance premium payments and make it …

A.M. Best: Australia’s Nat Cat Losses Will Challenge Underwriting Profits

A string of recent major natural catastrophe events in Australia is expected to materially affect non-life insurers’ upcoming earnings for the fiscal year that ends June 30, 2015, according to an A.M. Best briefing. However, the Best’s Briefing, titled, “Recent Natural Catastrophe …

Aspen Re Appoints Parker and Wedlock Within Asia Pacific Region

Aspen Re, the reinsurance segment of Aspen Insurance Holdings Limited, announces the appointments of Andrew Parker as head of its Australian branch in Sydney and senior underwriter and Paul Wedlock as senior underwriter – both within its Asia Pacific region. …

Berkshire Hathaway Specialty Expands Into Australia; Colahan Leads Region

Berkshire Hathaway Specialty Insurance Company (BHSI) announced it has received its insurance license to provide all lines of general business in Australia, established operations in Sydney, and named Chris Colahan as president of its Australasia region. “BHSI is committed to …

Windstorm Niklas Was Costliest Non-U.S. Event in Q1 2015: Impact Forecasting

Impact Forecasting, Aon Benfield’s catastrophe model development team, released the latest edition of its monthly Global Catastrophe Recap report, which reviews the natural disaster events that occurred worldwide during March 2015. The report reveals that Windstorms Mike and Niklas swept …