Australian market News

Ardonagh Group to Buy Australian Insurance Investment, Distribution Firm Envest

The Ardonagh Group, the London-based independent insurance distribution platform, announced it has agreed to acquire Envest Pty Ltd., an Australian insurance investment and distribution business. Headquartered in Brisbane, Queensland, Envest operates with a diverse portfolio of brands and a national …

Australian Corporate Watchdog Investigates Firms for ‘Greenwashing’

Australia’s corporate watchdog is investigating several companies and financial institutions for “greenwashing,” or exaggerated claims regarding environment-friendly investment and products, a senior official said on Tuesday. The Australian Securities and Investment Commission (ASIC) has been increasing its oversight of climate-related …

Proposed Australian Law Would Make It Employers’ Job to Stop Sexual Harassment

New legislation introduced into Australia’s Parliament will place a “positive duty” on employers to prevent workplace sexual harassment, as part of sweeping changes to improve worker safety. Under the proposed law, introduced by the government into Parliament on Tuesday, employers …

Australia on High Alert for Foot-and-Mouth Disease in Its Cattle Herds

Australia is on high alert for foot-and-mouth disease in its cattle herds after traces of the virus were found on imported animal products. The disease is already ripping through Indonesia, and is creeping ever closer to paddocks Down Under, where …

ANZ Agrees to Buy Australian Insurer Suncorp’s Bank Operations for $3.3 Billion

Australia & New Zealand Banking Group Ltd. agreed to buy Suncorp Group Ltd.’s banking operations for A$4.9 billion ($3.3 billion) as it seeks to gain an edge over larger rivals by expanding in the country’s fastest growing region. The lender …

BMS Acquires Australian Retail Broker SRG Group

BMS, the London-based independent specialist insurance and reinsurance broker, announced the acquisition of SRG Group, the Australian corporate retail broker with operations in Perth and Queensland. Founded in 2005, SRG is a mature, multi-award winning insurance brokerage that provides high …

Australia Faces Growing Risk of Foot-and-Mouth Disease as Indonesia Outbreak Spreads

The risk of foot-and-mouth disease reaching Australian shores has escalated as an outbreak sweeps through cattle herds in Indonesia. More than 20,000 animals have been infected by foot-and-mouth disease across 16 provinces, according to Indonesia’s agriculture ministry. Some analysts are …

Australia Should Force Firms to Report Human Rights Abuses in Anti-Slavery Law: Analyst

Australia should force companies to report potential human rights abuses as part of a review of its modern slavery disclosure rules, according to an analyst at a A$16 billion ($12 billion) fund manager who helped draft the current law. That …

First Online M&A Insurance Marketplace Launches in Australia

io.insure, the world’s first online mergers and acquisitions (M&A) insurance marketplace for small and medium-sized business (SME) transactions, announced it has launched in Australia. The io.insure marketplace is designed to bridge the significant risk protection gap in the niche M&A …

Arthur J. Gallagher & Co. Buys Australia’s Sound Insurance Services

Arthur J. Gallagher & Co. announced the acquisition of Caulfield, Victoria-based Sound Insurance Services in Australia. Terms of the transaction were not disclosed. Founded in 2011 by Simon Feldman and Morris Alessi, Sound Insurance is a retail property/casualty broker serving …