Latest Australia Headlines
All the headlines from our Australia Topic Page, ordered by recency.
Aon Sees Catastrophes, Consolidation, Regulation in Asian Re Market
Oct 19 2010 // Aon Benfield launched a market update for the key Asia Pacific reinsurance hubs of Australia/New Zealand, Japan, Singapore and China at the recently concluded East Asian Insurance Congress (EAIC) in Bali. The announcement...
Best Affirms ‘A’ Ratings of QBE Insurance Group and Subsidiaries
Sep 30 2010 // A.M. Best Europe – Rating Services Limited has affirmed the financial strength ratings of ‘A’ (Excellent) and the issuer credit ratings (ICR) of “a+” of UK-based QBE Insurance (Europe)...
Australia Regulator Blocks NAB’s $12 Billion AXA Asia Pacific Bid
Sep 9 2010 // Australia’s competition regulator has again blocked National Australia Bank’s $12 billion bid for AXA Asia Pacific, dealing a blow to NAB’s 9-month efforts to cement its dominance in the world’s...
RMS Releases ‘Australia Severe Convective Storm Model’
Aug 19 2010 // Risk Management Solutions has completed work on a model dealing with Australia’s three greatest perils. RMS announced the phase one release of its “Australia Severe Convective Storm Model®, covering damage...
China’s Economy Set to Pass Japan’s as World’s Second Biggest
Aug 2 2010 // China is set to overtake Japan as the world’s second-largest economy in a resurgence that is changing everything from the global balance of military and financial power to how cars are designed. By some measures it...
Supreme Court Decision Limits Non-U.S. Companies’ Exposure to U.S. Securities Litigation
Aug 2 2010 // Securities lawsuits against BP and Toyota may be substantially narrowed, thanks to a recent Supreme Court decision. On June 24, 2010, in a long-awaited decision that will affect the circumstances under which non-U.S....
A.J. Gallagher Buys Remaining Interest in Australia’s Specialised Broking
Jul 30 2010 // Chicago-based global insurance brokerage firm Arthur J. Gallagher & Co. has acquired the remaining 60 percent equity interest in Specialised Broking Associates Pty. Ltd, (SBA) headquartered in Perth, Western Australia....
Goldman Sachs Deep Pockets May Still Make It Lawsuit Target
Jul 20 2010 // Goldman Sachs put one headache behind it by settling with U.S. securities regulators, but it looks like a tempting deep pocket for banks and hedge funds that bought subprime-backed mortgage securities. A day after the U.S....
Supreme Court Decision Limits Non-U.S. Companies’ Exposure to U.S. Securities Litigation
Jul 19 2010 // Securities lawsuits against BP and Toyota may be substantially narrowed, thanks to a recent Supreme Court decision. On June 24, 2010, in a long-awaited decision that will affect the circumstances under which non-U.S....
The Growing Risks of Social Media
Jul 12 2010 // Asked why he robbed banks, Willie Sutton famously replied: “Because that’s where the money is.” Something similar can be said to explain why companies are paying more attention to social media these days...
How to Manage the Growing Risks of Social Media
Jul 5 2010 // Advertising, Defamation, Privacy and Security Laws All at Issue Asked why he robbed banks, Willie Sutton famously replied: “Because that’s where the money is.” Something similar can be said to explain why...
Munich Re: ‘Ever Higher’ Nat Cat Costs; Ups Chile Quake Loss to $1 Billion
Jun 8 2010 // A bulletin from Munich Re, the world’s largest reinsurer, concludes that the “long-term trend towards ever higher natural catastrophe costs” looks set to continue, according to an analysis from its Geo...
Insurance Australia Group Strengthens UK Claim Reserves
Jun 2 2010 // Insurance Australia Group (IAG) has announced that “due to a significant deterioration in UK claim experience, in particular bodily injury claims, it had conducted a further independent actuarial review of its UK...
AXA Extends Talks with National Australia Bank on AXA Asia Pacific Deal
Jun 2 2010 // AXA, AXA Asia Pacific Holdings Limited (AXA APH) and National Australia Bank Limited (NAB) announced that they have agreed to “extend until July 15, 2010 end of day the agreement relating to the proposed transaction...
Report: National Australia Bank to Sell Assets for $13 Billion AXA Deal
May 14 2010 // National Australia Bank, which has seen its $13 billion takeover bid for AXA Asia Pacific Holdings Ltd blocked by the competition regulator, is preparing to sell some assets to appease the government watchdog, two sources...
Tower Australia Eyes AIA Insurance
Apr 8 2010 // Tower Australia Ltd will be interested in buying the “well-run” Australian business of AIA if it comes up for sale, as it moves into the fast-growing group insurance sector, Tower’s chief executive said...
U.S. High Court Weighs Foreign Investors Suing in U.S. Courts
Apr 6 2010 // The Supreme Court indicated this week it could prohibit foreign investors from using U.S. securities law and American courts to sue a foreign bank for fraud. The court heard argument in a challenge from Australian...
Tropical Cyclone Shuts Australia Coal Port, Threatens Sugar Fields
Mar 19 2010 // A tropical cyclone forced Australia’s second-biggest coal port to close on Friday, bringing millions of tons of coal shipments to a halt and threatening to damage thousands of acres of sugar-cane...
Ratings Recap: GIC India, Top Layer Re, AIA (Australia), PartnerRe (notes)
Mar 15 2010 // A.M. Best Co. has affirmed the financial strength rating of ‘A-‘ (Excellent) and issuer credit rating of “a-” of General Insurance Corporation of India (GIC), both with stable outlooks. The ratings...
Rising Rivers Flood Rural Australian Towns
Mar 8 2010 // Floods caused by heavy rains have cut off several townships in Australia’s northeastern Queensland state and caused hundreds of millions of dollars in damage, the state’s premier said Sunday. Premier Anna Bligh...
