May 8, 2024
Ardonagh Group, the London-based independent insurance distribution platform, announced it has agreed to acquire Australia’s PSC Insurance Group Ltd., in a deal valued at A$2.3 billion (US$1.5 billion). PSC is a diversified insurance services group that operates brokerage businesses and …
May 6, 2024
Arthur J. Gallagher & Co., the Rolling Meadows, Illinois-based broker, announced the acquisition of Melbourne, Victoria-based Health Insurance Consultants Australia (HICA). Terms of the transaction were not disclosed. HICA is a specialist health insurance consultancy and brokerage firm serving corporate …
March 18, 2024
Uber agreed to pay A$271.8 million ($178 million) to compensate thousands of taxi drivers in Australia who claimed they lost income when the ride-share company entered the local market. Uber Technologies Inc. settled the class action brought by more than …
November 27, 2023
Increasing numbers of Australians are abandoning their insurance policies as premiums surge in response to climate-linked natural disasters, the head of the Insurance Council of Australia said. Over a million households now face home insurance affordability stress, Andrew Hall said …
November 6, 2023
Coalition, the San Francisco-based cyber managing general agent and cyber-security firm, launched its suite of Active Cyber Insurance products in Australia. Active Cyber Insurance works with organizations to help them understand their cyber risk profiles, improve their defenses, and, ultimately, …
November 1, 2023
Australian inflation is being driven by climate change, geopolitical shocks and government policies — factors typically beyond the Reserve Bank’s control. Yet economists still anticipate it will have to respond with monetary tightening as soon as next week. In a …
August 21, 2023
Marsh has agreed to acquire Honan Insurance Group Pty Ltd. as the US insurance broker giant seeks to expand its presence in Australia and New Zealand. The Marsh & McLennan Cos Inc. unit has signed a deal to buy out …
August 14, 2023
Australian home insurance premiums jumped the most in two decades in the past year, driven by weather catastrophes and higher building costs, new research showed. Median home insurance premiums surged 28% to A$1,894 ($1,240) in the year to March 31, …
August 2, 2023
Before COVID-19 sent one-third of the global workforce home, the Melbourne property surveyor that employs drone operator Nicholas Coomber called its 180-strong staff into the office every day at 9 a.m. to hand out assignments. Now that they work from …
July 5, 2023
BMS Group, the London-based independent specialist re/insurance broker, has entered into an agreement to acquire Brisbane-based specialty broker Bluebook Insurance Brokers. The deal is the sixth Australian acquisition by BMS in the past 12 months as the company looks to …