Latest Australia Headlines
All the headlines from our Australia Topic Page, ordered by recency.
XL Catlin Promotes Powell to Chief Underwriting Officer for International Financial Lines
Feb 13 2018 // XL Catlin’s insurance operations announced that Tim Powell has been promoted to chief underwriting officer for international financial lines (IFL), effective March 1. Powell will be responsible for the underwriting...
QBE Expects US$1.2B Loss in 2017 from ‘Unprecedented’ Natural Catastrophes
Jan 24 2018 // QBE announced to the market this week that it expects a US$1.2 billion after-tax loss in 2017 on “unprecedented” natural catastrophe claims. “This has been a challenging year for QBE, reflecting an...
Search for Missing Malaysia Airlines Flight 370 Resumes – 4 Years After Disappearance
Jan 9 2018 // Malaysia’s government said Saturday that it has approved a new attempt by a private company to find the wreckage of Malaysia Airlines Flight 370, nearly four years after its disappearance sparked one of...
Allianz’ Property Unit Plans to Double Asian Investments in Next 3 Years
Jan 4 2018 // Allianz SE’s property unit plans to double investments in Asia over three years as the German firm is drawing in more money from its insurance operations in the region. Property investments may swell to 3.75 billion...
QBE Insurance Settles Shareholder Class Action in Australia for US$103.2M
Dec 29 2017 // QBE Insurance Group Ltd. has agreed to pay A$132.5 million (US$103.2 million) to settle a shareholder class action in Australia. The class action was commenced by Money Max Interest Pty Ltd on Sept. 9, 2015 in the Federal...
Chubb Names French & Hill to Asia-Pacific Leadership Positions
Dec 14 2017 // Chubb announced two leadership appointments in the company’s Asia Pacific business. John French, currently country president for Australia and New Zealand, has been appointed to the position of senior vice president,...
Zurich’s Acquisition of ANZ Life Unit Designed to Boost Dividends
Dec 12 2017 // Zurich Insurance Group AG’s decision to acquire the life-insurance businesses of Australia & New Zealand Banking Group Ltd. should help Switzerland’s biggest insurer fulfill its ambition to increase its...
Zurich Insurance to Acquire ANZ’s Life Businesses in Australia for US$2.14B
Dec 11 2017 // Zurich Insurance Group announced that it has entered into an agreement to acquire 100 percent of ANZ’s life insurance businesses, OnePath Life, in Australia, for A$2.85 billion (US$2.14 billion). Both parties expect...
Australia’s IAG Forms Capital-Releasing Deals with Munich Re, Swiss Re, Hannover Re
Dec 8 2017 // Insurance Australia Group Ltd. said on Friday it will share 12.5 percent of its premiums and costs with Munich Re, Swiss Re and Hannover Re, in a series of deals that will release capital for Australia’s biggest...
Allied World Appoints MacLeod as Australia Country Manager
Dec 6 2017 // Allied World Assurance Co. Holdings announced that Iain MacLeod has been appointed senior vice president, Country Manager, Australia. He will report to Michael Garrison, president, Asia Pacific. “Australia is a key...
BHSI Introduces Contractors Plant & Equipment Cover in Australia
Nov 22 2017 // Berkshire Hathaway Specialty Insurance Co. (BHSI) announced it has introduced a new Contractors Plant & Equipment (CP&E) policy for customers in Australia. “With this new policy, contractors can easily and...
Malaysia, Australia Investigate Massive Commercial, Governmental Data Breaches
Nov 2 2017 // Malaysia is investigating the theft of mobile-phone records for 46.2 million customers, while an online security lapse in Australia exposed personal details of almost 50,000 employees. The Malaysian government is working...
RMS Opens Office in Sydney to Support Client Growth in Australia, New Zealand
Oct 25 2017 // RMS, the Newark, Calif.-based global risk modeling and analytics firm, has opened a new office in Sydney, Australia, as part of its drive to support clients’ expansion in the Australian and New Zealand markets. The...
Rio Tinto Plans to Use Driverless Trains to Ship Iron Ore in Australia
Oct 3 2017 // Rio Tinto is set to use driverless iron ore trains in Western Australia in 2018, the world No. 2 miner of the steelmaking commodity said on Monday after completing its first long-haul journey with a completely autonomous...
Uber Drivers Will Need Licenses, Insurance in Australia’s Queensland
Oct 2 2017 // Ride-booking operators and drivers, such as those from Uber Technologies Inc., will need licenses to offer their services in the Australian state of Queensland under new regulations announced Sunday in Brisbane. The...
PERILS Raises Insured Loss Estimate for Cyclone Debbie to A$1.7B (US$1.34B)
Sep 28 2017 // The property insurance market’s loss for tropical cyclone Debbie has risen to A$1.7 billion (US$1.34 billion), according to PERILS, the independent Zurich-based organization that provides industry-wide catastrophe...
Chubb’s Launches Business Pack Insurance for Australian SMEs
Sep 25 2017 // Chubb has launched a package insurance solution called Chubb Business Pack Insurance for small and medium enterprises in Australia. This solution aims to provide broad coverage for property and liability exposures to help...
AIA Buys Commonwealth Bank of Australia’s Life Insurance Business for A$3.8B
Sep 21 2017 // AIA Group Ltd. agreed to buy Commonwealth Bank of Australia’s life insurance business for A$3.8 billion (more than $3 billion), in its most ambitious foray beyond the Hong Kong-based company’s core markets in...
AIA and Zurich Make Separate Bids for Australian Insurance Businesses: Reuters
Sep 15 2017 // Hong Kong-based insurance giant AIA Group Ltd. has shown interest in buying Commonwealth Bank of Australia’s insurance business, which is likely to be valued at about $4 billion, people with knowledge of the matter...
QBE Group CEO Neal to Exit; Regan to Succeed Him in January
Sep 13 2017 // QBE Insurance Group today announced that John Neal, Group chief executive officer, will be stepping down after five years in the role. The board of directors has appointed Patrick Regan, chief executive officer Australian...
