Latest Australia Headlines
All the headlines from our Australia Topic Page, ordered by recency.
Insurance Council of Australia Declares Flood Catastrophe for Regions of Victoria
Jun 14 2021 // The Insurance Council of Australia (ICA) has declared a catastrophe for regions of Victoria affected by significant storms and flooding of the last few days. The ICA’s catastrophe declaration serves to escalate and...
Australian, North American Units of World’s Largest Meat Supplier Hit by Cyber Attack
Jun 1 2021 // MELBOURNE – Australian and North American units of the world’s largest meat works were hit over the weekend by an organized cyber attack on its information systems, Brazil’s JBS SA said in a statement. The...
Australia Weighs Capping Fees for Litigation Funders, Lawyers as Class Actions Surge
May 28 2021 // SYDNEY – Australia is considering capping fees for litigation funders and lawyers, and guaranteeing a minimum rate of return for plaintiffs, in its latest clamp down on the industry following a surge in costly class...
People Moves: Ex-NewRe Executive Cussigh to Peak Re in Zurich; Key Changes at Euler Hermes; Daley Promoted at Sedgwick Australia
May 26 2021 // This wrap-up of international People Moves details recent appointments at Peak Re, the Hong Kong-based reinsurer; Euler Hermes, the Paris headquartered credit insurer, and Sedgwick, the provider of technology-enabled risk,...
Australia Bushfire Funding ‘Welcome’ but Insurance Tax Rise ‘Unsustainable’: ICA
May 21 2021 // The Insurance Council of Australia (ICA) welcomed the budget announcement from the state of Victoria of funding of A$517 million (US$401 million), which will be allocated across several bushfire risk reduction projects....
Gallagher Acquires Australia’s Mutual Brokers
May 3 2021 // Insurance broker Arthur J. Gallagher & Co. said it has acquired Mutual Brokers Pty Ltd., a Canberra, Australian Capital Territory (ACT)-based Terms of the transaction were not disclosed. Founded in 1985, Mutual Brokers...
Liberty Mutual Weighing Options, Delays Australian Coal Mine Project
Apr 30 2021 // MELBOURNE — U.S. insurer Liberty Mutual will not be filing an environmental impact assessment for a coal project in Australia, it said on Friday, missing a deadline as it weighs alternatives for the proposed...
Greensill Creditors OK Australian Liquidation; Further Investigations Expected
Apr 26 2021 // Creditors of Greensill Capital Pty, the Australian parent of the collapsed British supply chain financier, voted on Thursday to liquidate the company, its administrator said, triggering deeper investigations into the...
Cyclone Seroja Damages Towns in Western Australia with Strongest Winds in 50 Years
Apr 14 2021 // PERTH, Australia (AP) – A destructive cyclone has damaged several towns on Australia’s western coast, shattering windows, snapping trees and knocking out power. There have been no reports of serious...
Australia’s Regulator Weighs Limits on Life Insurers’ Exposure to Offshore Reinsurance
Apr 8 2021 // Australia’s insurance regulator on Thursday proposed to limit the exposure of life insurers to offshore reinsurers, given its lack of oversight of foreign players. The Australian Prudential Regulation Authority...
Sustainable Investment Group Questions Liberty Mutual over Australia Coal Mine Plan
Apr 8 2021 // MELBOURNE – UNPRI, a United Nations-backed network that promotes sustainable investment, is reviewing the status of Liberty Mutual as a signatory after receiving a complaint that the U.S. insurer is backing a coal...
Australia’s Floods to Hit Insurers’ Earnings, Put Upward Pressure on Reinsurance Rates
Mar 31 2021 // Insured losses from Australia’s March floods are expected to hit general (or property/casualty) insurers’ underwriting margins and earnings in 2021, while putting more upward pressure on reinsurance rates,...
Gender Pay Gap in Australia Is Worst in Insurance and Finance Industries: Study
Mar 26 2021 // Australia is losing momentum in efforts to bring equality to the workforce, with a new study finding that it will probably take another 26 years until women are paid the same as men. The gender pay gap is worst in finance...
Insurance Council of Australia Declares Catastrophe for Parts of New South Wales
Mar 22 2021 // The Insurance Council of Australia (ICA) has declared a Catastrophe for large parts of New South Wales, a state in southeast Australia, following the devastating storms and flooding of the last few days. The ICA’s...
Australia Battered by Worst Flooding in 60 Years
Mar 22 2021 // PITT TOWN, Australia — Australia was set on Monday to evacuate thousands more people from suburbs in Sydney’s west, battered by the worst flooding in 60 years, with torrential rains expected to continue for...
Specialist MGA CFC Acquires Australian Cyber Security Firm, Insane Technologies
Mar 17 2021 // CFC, a specialist managing general agent, announced it has acquired Insane Technologies, an Australian cyber security and incident response provider. Financial details of the transaction were not disclosed. The deal is...
Tokio Marine Examines Validity of Greensill Insurance Policies Provided by Australia Unit
Mar 10 2021 // TOKYO – Japanese insurer Tokio Marine Holdings Inc. said on Wednesday it is investigating the validity of insurance policies provided by its Australian unit to speciality finance firm Greensill. Greensill filed for...
Chubb Names Kelaher as Country President for Australia and New Zealand
Mar 9 2021 // Chubb announced it has appointed Peter Kelaher as country president for Australia and New Zealand. In his new role, Kelaher, who is currently senior vice president and head of Property and Casualty (P/C) for Australia and...
Australia’s Largest P/C Insurer Says It Has No Net Exposure to Greensill Capital
Mar 9 2021 // Insurance Australia Group, the country’s largest general [P/C] insurer, said on Tuesday it had no net exposure to supply chain finance firm Greensill Capital, helping its shares recover from a sharp 10% drop...
Beazley’s CEO Horton to Become Group CEO of QBE Insurance in Australia
Mar 3 2021 // Beazley Chief Executive Officer Andrew Horton is leaving to become the group chief executive officer of QBE Insurance Group Ltd. in Australia, the two companies announced. Horton will be succeeded in the role by Adrian...
