Zurich Insurance, a Switzerland-based multi-line insurance provider, is in advanced stages of negotiations to take over Australian firm Wesfarmers' A$2bn insurance business. The Swiss firm has commenced due diligence on the Aussie's ...
Tags: Zurich Insurance, Insurance
China credit crunch fears sent the stockmarket tumbling almost 1.5 per cent lower, with investors fleeing materials as China called on its banks to control credit expansion risks and declared liquidity in its financial system was at "a ...
Tags: China, Investors, Banks, Financial System
General Electric (GE) is reportedly considering sale of its Australia-based insurance business, GE Capital Insurance, in an effort to adjust its Australian portfolio, a source familiar with the deal has revealed. The source was quoted by ...
New York-based private equity firm, Aquiline Capital Partners has completed the purchase of Equity Insurance Group from Insurance Australia Group. Based in the UK, Equity Insurance is one of the ten largest motor insurance syndicate at ...
Tags: Aquiline Capital, Equity Insurance
Open GI has appointed Nick Yost as the new head of Insurer Relations team, and will be responsible for driving strategy and growth opportunities from both existing and new Open GI insurer partners. Prior to joining Open GI, Yost served ...
Tags: insurer relations, insurer, GI insurer
The benchmark S&P/ASX 200 has closed down 2.3 per cent at 4980.1, its biggest fall in nine months. More than $36 billion was wiped from the value of Australian shares in the market's largest one-day decline since May 18, pulling back from ...
Tags: Stocks, benchmark, Australian shares
The Australian sharemarket pulled back in late trading but still closed slightly higher, with investors unfazed by Julia Gillard announcing that the next federal election would be on September 14. At 4.15pm AEDT, the benchmark S&P/ASX 200 ...
Tags: Australian sharemarket, currency, economy
The Australian sharemarket has closed higher, with investors encouraged by the recent strength of global markets. At 4.15pm AEDT, the benchmark S&P/ASX 200 index had risen 53.8 points, or 1.11 per cent, to 4889.0 points - its highest ...
Insurance Australia Group (IAG) has sold its UK insurance business following the completion of a strategic review process, in an effort to boost profits at home and also expand its foot print in the Asian market. The sale includes Equity ...
Tags: insurance business, strategic review process, Asian market, tax on sale
Insurance Australia Group is mulling to sell its UK underwriting operations, which include motor insurer Equity Red Star and commercial insurance broker Barnett & Barnett. As part of a strategic review of its UK business, IAG Managing ...
Tags: Insurance Australia Group, motor insurer, Equity Red Star
Insurance Australia Group owned NRMA Insurance has joined hands with TAL, formerly known as TOWER Australia, to offer its customers life insurance products. As per the agreement, TAL will provide life insurance policies on behalf of NRMA ...
Tags: Insurance Australia Group, NRMA Insurance, life insurance products
Insurance Australia Group (IAG) is seeking to expand its foothold in the Indonesian underwriting market with an acquisition of A$100m ($102m) in Indonesia. IAG's Asia CEO Justin Breheny said the insurer has decided to partner with a bank ...
Tags: IAG, Indonesian underwriting market, acquisition, insurance