Latest Australia Headlines
All the headlines from our Australia Topic Page, ordered by recency.
Environmental Disaster Unfolds in Pacific, Near Solomon Islands, as Ship Leaks Oil
Mar 4 2019 // An environmental disaster is unfolding in the Pacific after a large ship ran aground and began leaking oil next to a UNESCO World Heritage site in the Solomon Islands, Australian officials said Friday [March 1]. Footage...
QBE Takes Another Step to Reporting Strong Results, Consistently, with 2018 Profit
Feb 27 2019 // QBE Insurance Group took another step in its quest to achieve strong results, consistently, by reporting a cash profit after tax of US$715 million during 2018, a significant improvement on the cash loss of US$262 million...
Asia-Pacific SMEs Are Over-Confident About Their Cyber Preparedness: Chubb
Feb 15 2019 // A significant perception gap exists between the cyber awareness and cyber preparedness at small and medium enterprises in some Asia-Pacific countries, according to a Chubb survey titled “Too Small to Fail?” The...
Insurtech-Driven MGA, Agile, Appointed as StarStone Partner in Australasia
Feb 15 2019 // Agile Underwriting Services Pty Ltd., the insurtech-driven managing general agency (MGA) and Lloyd’s coverholder, announced it has been appointed as a representative agent for global specialty insurer, StarStone, in...
January’s U.S. Storms, Australia Floods Bring Economic Damages Near $2B: Aon
Feb 11 2019 // Multiple winter storms and extreme cold led to 45 deaths and cost the U.S. economy $1 billion during January, according to Aon’s Global Catastrophe Recap – January 2019. The report listed the winter storm events in...
Australia Inquiry into Financial Sector Scandals Seen to Give Reprieve to Banks
Feb 5 2019 // Australia financial shares surged the most in a decade after an inquiry into decades of wrongdoing stopped short of demanding a structural overhaul of the scandal-plagued industry or tighter lending rules that threatened...
Insurance Council of Australia Declares Catastrophe for Queensland Floods
Feb 4 2019 // The Insurance Council of Australia (ICA) declared a catastrophe for insurance policyholders who have been affected by torrential rain and flooding in the northeastern Australian state of Queensland. “The Queensland...
Australia Sweltered in January Through Hottest Month on Record
Feb 4 2019 // Australia sweltered through its hottest month on record in January and the summer of extremes continued with wildfires razing the drought-parched south and flooding in expanses of the tropical north. Australia’s...
Japan Insurers Eye China Acquisitions in Continuation of Overseas Deal Spree
Feb 4 2019 // Japanese insurance companies have spent more than $50 billion on acquisitions over the past five years to become the world’s second-largest buyer of insurance assets, and the deals spree won’t be slowing down...
Australia to Shake Up Financial Sector After Inquiry Shows Widespread Wrongdoing
Feb 4 2019 // Australia’s corporate regulators will be subjected to a new oversight body in a shake-up of the banking sector recommended by a high-powered independent inquiry into financial sector greed and malpractice. The...
Insured Losses from Sydney Hailstorms Estimated at A$635M (US$457.5M): PERILS
Jan 31 2019 // Initial insured property losses for December’s hailstorms in Sydney are estimated at A$635 million (US$457.5 million), according to PERILS, the independent Zurich-based organization that provides industry-wide...
Tropical Cyclone Penny Slams North Australia Coast Near Rio Tinto Mine
Jan 2 2019 // Tropical Cyclone Penny slammed into the far north coast of Australia’s Queensland state near Rio Tinto Group’s Weipa bauxite mine, triggering warnings of flash flooding and damaging winds. The category 1...
New South Wales Hailstorm Triggers Australia Catastrophe Declaration
Dec 28 2018 // The Insurance Council of Australia (ICA) last week declared a catastrophe following storms that caused extensive hail and water damage across Sydney and the Central Coast in New South Wales (NSW). As of Dec. 21, insurers...
Marsh Makes Post-JLT Merger Leadership Appointments
Dec 19 2018 // Global insurance broker Marsh announced the appointments of key leaders for its regional, specialty and placement teams worldwide that will be effective upon closing of the pending acquisition by Marsh’s parent...
Australia Court Narrows Class-Action Suits Against BHP over Brazil Mine Disaster
Dec 19 2018 // The Federal Court of Australia on Tuesday ordered that the number of class-action lawsuits against BHP Group over a Brazilian mine collapse be narrowed to one from three. BHP is facing legal challenges over the 2015...
Gallagher Buys Boston Marks Group with Offices in N. Zealand, Australia, UK & U.S.
Dec 10 2018 // Arthur J. Gallagher & Co., the Rolling Meadows, Ill.-based insurance broker, has acquired Boston Marks Insurance NZ in New Zealand, BMG Aviation in Australia and the book of business of Boston Marks Insurance Brokers...
Timeline: Australia’s Inquiry of Misconduct at Banks, Insurers, Wealth Managers
Nov 29 2018 // For nine months a quasi-judicial public inquiry into Australia’s financial system has heard allegations of bribery, fraud, board-level cover-up, abuse of power and the charging of fees for no service. As the inquiry...
Australia Inquiry into Bank Misdeeds Could Trigger Sweeping Financial Sector Reform
Nov 29 2018 // An inquiry that has exposed rampant greed and wrongdoing in Australia’s major banks and wealth managers wraps up this week ahead of a final report which could trigger sweeping reform of the financial sector of the...
Commonwealth Bank of Australia CEO Blames Predecessor for Insurance Mis-Selling
Nov 20 2018 // Commonwealth Bank of Australia Chief Executive Officer Matt Comyn has pinned the blame on predecessor Ian Narev for failing to stop selling credit card insurance that some customers couldn’t claim on. Narev told...
Derailment of BHP Iron Ore Train Exposes Australia’s Reliance on Private Railways
Nov 8 2018 // A network of private railroads more than three times the length of the New York subway system is the key lifeline for Australia’s A$61.3 billion ($44.5 billion) iron ore export industry. So when there’s a...
