Australia News

Allied World Appoints Herron as VP in Australia Professional Liability Team

Allied World Assurance Co. Holdings announced that Michael Herron was appointed vice president, Professional Liability – Allied World Global Markets. Based in Sydney, Australia, Herron will be responsible for the growth and development of the company’s Australian professional liability business. …

XL Catlin Opens Brisbane Office, Continuing Regional Expansion

XL Catlin’s insurance segment announced it has opened its third office in Australia, located in Brisbane. The office will be initially staffed by Geoff Still and Steve Rogers covering property & casualty underwriting, respectively, with expansion planned into other lines …

BHSI Launches D&O & PI Cover in Australia, Expands Team

Berkshire Hathaway Specialty Insurance Company (BHSI) has launched four new executive and professional lines policies in Australia and named Sami Jaghbir as senior underwriting manager, Executive & Professional Lines, in Brisbane, and Richard Johnson as senior underwriting manager, Executive & …

Australia Wildfire Insurance Losses Double to A$53 Million ($38 Million)

Losses from wildfires that destroyed more than 100 homes along a popular tourist stretch in southeastern Australia more than doubled in two days to A$53 million ($38 million) and are expected to climb further, the Insurance Council of Australia said. Bushfires that …

Australia’s Suncorp Slumps Most Since 2009 on Insurance Margins Warning

Suncorp Group Ltd., Australia’s largest insurer by market value, plunged the most since 2009 after saying margins in its general insurance business will be hit by storm claims and increased costs due to a weaker local currency. Its shares dropped …

Talbot Australia Appoints Crisis Management Underwriting Team

Talbot Underwriting Australia, the Sydney-based branch of Talbot Risk Services Pte Ltd., has established a crisis management practice with the appointment of two leading underwriters to drive growth in specialty lines in the Australasian region. Steve Ward and Hamish McKay …

AXIS to Close Australian Retail Operations, Cut 100 Jobs

AXIS Capital Holdings Limited announced it will wind down its retail insurance operations in Australia and continue to operate in the market via its international wholesale insurance and global reinsurance platforms. As a result of this move, the company anticipates …

BHSI Enters Australia Construction Insurance Market; Appoints Team Execs

Berkshire Hathaway Specialty Insurance Company (BHSI) announced it is providing comprehensive insurance and services for the construction industry in Australia and named a team of executives to oversee key areas of its construction business. BHSI said it is offering construction …

Zurich Launches Management Liability Offering for SMEs in Australia

Zurich is launching a new management liability offering, specifically designed to protect small to medium enterprises (SMEs) in Australia, with turnovers up to AUD$50 million. The new product will be provided via “Z.stream,” the company’s electronic broking system. Z.stream* already …

QBE Completes Sale of Argentine Workers’ Compensation Business

QBE announced it has completed of the sale of the group’s workers’ compensation business in Argentina to La Caja Aseguradora de Riesgos de Trabajo ART SA, a company wholly owned by the Werthein Group, which has had a significant presence …