Latest Australia Headlines
All the headlines from our Australia Topic Page, ordered by recency.
Benfield Corporate Risk Opens Australian Office in Perth
Jun 2 2006 // Benfield Corporate Risk, the corporate insurance and risk intermediary catering for the risk management and transfer needs of the corporate sector worldwide, announced the opening of its first office in...
Allianz Australia Joining Global Transport to Increase Sector Growth
May 31 2006 // Allianz Australia Insurance Group has taken an equity position in Global Transport & Automotive Insurance Solutions (GT), formerly Global Motor Underwriting, to “provide a market leading facility to service...
Australian Climate Study Finds Stronger Evidence of Global Warming
May 26 2006 // A report compiled by the Australian government’s Department of the Environment and Heritage – Australian Greenhouse Office, concludes: “Evidence that the Earth is warming has become much stronger since...
S&P Raises Ratings on Allianz Australia to ‘A+’
May 19 2006 // Standard & Poor’s Ratings Services announced that it has raised its insurer financial strength and counterparty credit ratings on Allianz Australia Insurance Ltd. to “A+” from “A” and it...
Australian Manufacturer CSR , Insurers Agree to Asbestos Settlement
Apr 25 2006 // CSR Limited, a large Australian building products manufacturer, has reached a settlement of asbestos litigation with a group of 48 Australian, United Kingdom and European insurers. Under the terms of the settlement each of...
Business Moves
Apr 17 2006 // Tower Group, CastlePoint Tower Group, Inc. in New York has entered into a strategic relationship with CastlePoint Holdings, Ltd., a Bermuda-based holding company that it has sponsored. CastlePoint has been capitalized with...
Fitch Affirms Insurance Australia Group’s Ratings
Apr 13 2006 // Fitch Ratings has affirmed the ‘AA-‘ (AA minus) Insurer Financial Strength ratings of Insurance Australia Group Limited’s main underwriting subsidiaries, Insurance Australia Limited and IAG New Zealand...
Assurex Global Adds New Partners in Europe and Pacific Rim
Apr 4 2006 // Columbus, Ohio-based Assurex Global has added new partners in Australia, Switzerland and Austria. OAMPS Insurance Brokers, Ltd. in Australia; GWP Insurance Brokers in Switzerland; and Assurance Partners Versicherungsmakler...
S&P Assigns IAG ‘AA-‘ Ratings
Mar 28 2006 // Standard & Poor’s Ratings Services announced that it has assigned its ‘AA-‘ long-term counterparty credit rating to Insurance Australia Group Ltd., with a stable outlook. “The rating reflects...
Crawford Handling Australian Claims
Mar 24 2006 // Crawford & Company announced that its Australia operation has activated its catastrophe plan in the wake of Cyclone Larry, the category five cyclone that struck Australia on Monday morning (See IJ Website March...
Larry Lashes Northern Australia
Mar 20 2006 // Tropical Cyclone Larry hit Northern Australia as a category 5 storm with winds of up to 290 kph (175 mph) the most powerful in memory. Larry came ashore near the town of Innisfail in the State of Queensland, about 100 kms...
Guy Carpenter Appoints Carless to Lead Pacific Operations
Mar 17 2006 // Guy Carpenter & Company Inc., the leading global risk and reinsurance specialist and a part of the Marsh & McLennan Companies, announced the appointment of Ray Carless as Executive Chairman of its Australia, New...
S&P Survey of Australia NZ Market Notes M&A Activity; Rating Changes
Jan 16 2006 // Standard & Poor’s Ratings Services has issued a report which notes: “Rating actions picked up noticeably in Australia and New Zealand in 2005, as merger and acquisition (M&A) activity intensified and...
Best Affirms QBE’s Key Operating Subsidiaries ‘A’ Ratings
Jan 12 2006 // A.M. Best Co. announced that it has affirmed the financial strength rating of “A” (Excellent) and issuer credit rating (ICR) of “a+” of the following subsidiaries of Australian insurer QBE: QBE...
Vietnam’s BIDV Bank to Acquire QBE’s Insurance Co. Stake
Jan 9 2006 // The Bank for Investment and Development of Vietnam (BIDV) has reportedly agreed to purchase all the stock held by Australia’s QBE Insurance Group in their joint-venture insurance company. As reported by Asia Pulse on...
Australian Bushfires Rage Uncontrolled
Jan 3 2006 // A series of bushfires during the hot Australian summer – temperatures well above C40°(F102°) – have destroyed more than a dozen homes north of Sydney, and are threatening hundreds more. The BBC reported that...
S&P Revises Outlook on ACE, Australia & NZ to Stable
Nov 30 2005 // In line with its announcement on ACE Ltd. (See above article), Standard & Poor’s Ratings Services announced that it has also revised its outlook to stable from negative on its “A” counterparty credit...
Arthur J. Gallagher & Co. Purchases InterPacific Underwriting Agencies Pty of Australia
Nov 1 2005 // Arthur J. Gallagher & Co. announced the acquisition of InterPacific Underwriting Agencies Pty Ltd of Sydney, Australia. Terms of the transaction were not disclosed. Founded in 1997, InterPacific Underwriting Agencies...
New Report Gives Tips for Railroad Transport Insurers
Oct 11 2005 // With costs for energy rising, there may be renewed interest in shipping by more by rail and less by truck when considered economically viable, according to a new report by the Inland Marine Underwriters Association (IMUA)...
Australian P/C Insurers Credit Quality Remains Strong Says S&P
Sep 6 2005 // Standard & Poor’s Ratings Services has issued a statement indicating that “credit quality among the nonlife insurance players in Australia should remain strong over the next couple of years, supported by...
