Latest Australia Headlines
All the headlines from our Australia Topic Page, ordered by recency.
BHP Expects Interruption to Australia Iron Ore Exports After Train Derailment
Nov 7 2018 // Mining giant BHP Billiton expects some interruption to its Australian iron ore exports after a nearly 3-km-long train loaded with the commodity was forcibly derailed this week after running away en route to a key shipping...
BHP’s Western Australia Iron Ore Train Derailment Will Take Week to Recover
Nov 6 2018 // BHP Billiton Ltd. expects to take about a week to recover from the derailment of one of its iron ore trains that’s halted its rail operations in Western Australia, potentially bolstering prices of the steelmaking raw...
BHP Forced to Derail Runaway Iron Ore Train in Australia
Nov 5 2018 // BHP Billiton Ltd. was forced to derail a runaway train that traveled almost 60 miles without a driver across the Pilbara, a major iron ore producing area in Western Australia. The world’s top mining company halted...
QBE Restructures Operations, Creating 3 Global Units; Executive Team Named
Nov 1 2018 // QBE announced changes to its structure, designed to further simplify its operations and build a more streamlined, agile and customer-oriented business. Following the underwriting remediation in Asia, which is now largely...
PERILS Offers Windstorm Forecasting Platform in Australia, Updates Europe Service
Oct 29 2018 // PERILS, the independent Zurich-based organization that provides industry-wide catastrophe insurance data, has launched a windstorm forecasting platform in Australia and updated its existing service in Europe. The website,...
Australia’s AMP to Sell Life Insurance Arm at Discount, as Funds Bleed Cash
Oct 25 2018 // Australia’s largest wealth manager AMP Ltd said on Thursday it would sell its life insurance arm at a discount and revealed its funds were hemorrhaging cash as clients pulled out their money in response to...
Australia Life Insurers Will Be Required to Publish Customer Dispute Numbers
Oct 24 2018 // Australia’s life insurers will be required to publish customer dispute numbers every six months, top financial regulators said on Wednesday, as a misconduct inquiry threatens other reforms that could hurt industry...
Australian Prime Minister Asks Regulator to Prosecute Bankers for Financial Misdeeds
Oct 1 2018 // Australian Prime Minister Scott Morrison said on Sunday it was up to the country’s financial regulator to prosecute bankers following the release of a scathing report which found some institutions had pursued profit...
Australia’s Financial Institutions Put Profit over Customers, Mis-Sold Insurance: Inquiry
Sep 28 2018 // Australia’s big banks and wealth managers pursued profit ahead of their customers’ interests and saw regulatory compliance as a cost rather than a guide to proper conduct, a scathing interim report from a...
Allianz Under Fire by Australian Commission for Travel Insurance Sales
Sep 17 2018 // An Australian unit of German insurer Allianz SE sold travel insurance that misleadingly promised unlimited emergency medical cover wherever people were even though the policies had limits on both cost and location, a...
Australia’s Financial Services Probe Highlights Need for Corporate Ethical Training
Sep 5 2018 // When Nick Wailes started as the head of Australia’s top-ranked business graduate school in February, he already had the idea of offering a course to address a shortfall of training in ethical leadership. A few weeks...
Litigation Financing Emerges as Alternative Asset Class for Wealthy Investors
Aug 29 2018 // When shares of AMP Ltd. plunged earlier this year after the firm was engulfed in a fee-for-no-service scandal, the Australian wealth manager was hit within weeks by the first of five separate class action lawsuits. It...
Australia Bans China’s Huawei from Supplying Mobile Equipment, Citing Hacking Risks
Aug 23 2018 // Australia has banned Chinese telecoms firm Huawei Technologies Co Ltd. from supplying equipment for a 5G mobile network, citing risks of foreign interference and hacking which Beijing dismissed as an “excuse”...
Australia’s QBE Reports 4% Rise in H1 Profit – on Fewer Natural Disasters
Aug 16 2018 // Australia’s QBE Insurance Group Ltd. posted a better-than-expected 4 percent rise in first-half profit, helped by fewer natural disasters in its biggest markets, sending its shares up almost 9 percent to their...
StarStone Launches Casualty Consortium for Australia, New Zealand Markets
Aug 15 2018 // StarStone, the global specialty insurer, has launched a casualty consortium targeted at the Australian and New Zealand markets. The consortium is led by StarStone’s Mark Hunt and has begun underwriting...
Global Commercial Insurance Prices Rise for 3rd Consecutive Quarter: Marsh
Aug 10 2018 // Global commercial insurance prices rose in the second quarter of 2018, marking the third consecutive quarter of increases, according to Marsh’s “Global Insurance Market Index.” These average increases...
RMS Strengthens Asia-Pacific Capabilities in Version 18 of Modeling Software
Jul 17 2018 // RMS, the Newark, Calif.-based risk modeling and analytics firm, announced it has strengthened the Asia Pacific capabilities of its Version 18 catastrophe risk management software. The Asia Pacific model suit is being...
Broker BMS Taps Gluszkiewicz from InterRISK as Director of Australian Operations
Jul 13 2018 // BMS Group Ltd., the independent specialist insurance and reinsurance broker, announced that Danny Gluszkiewicz is joining the growing BMS Australia team as a director of the Australian operations, effective August...
Facebook in Australia Faces Potential Class Action Suit over Data Privacy Breaches
Jul 10 2018 // Litigation funder IMF Bentham Ltd is preparing to potentially sue social media giant Facebook Inc in Australia over its sharing of users’ data with political consultancy Cambridge Analytica. The world’s largest...
Arthur J. Gallagher & Co. Acquires Australia Broker Milne Alexander
Jul 9 2018 // Arthur J. Gallagher & Co. announced the acquisition of Milne Alexander, with offices in Sydney, New South Wales and Port Lincoln, South Australia. Terms of the transaction were not disclosed. Founded in 1973, Milne...
