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Australia tag returned 706 results

  • Australia: Allianz faces additional US$170m capital requirement

    The Australian Prudential Regulation Authority (APRA) has announced that it will apply an additional A$250m ($170m) capital requirement to Allianz Australia to reflect the issues identified in the insurer's risk governance self-assessment.

    Asia | 16 Aug 2019
  • Australia: Rising defamation damages could shrink insurance capacity

    An explosion of damages awarded in defamation cases in Australia could see insurance capacity shrink. There is already anecdotal evidence of reduced insurance capacity and availability. According to Victorian Bar Queen's Counsel David Gilbertson this means higher premiums are 'inevitable'.

    Asia | 15 Aug 2019
  • Australia: Townsville flooding losses continue to surge

    The revised estimate of the property insurance market loss for the Townsville/northern Queensland flooding event in Australia between 26 January and 10 February 2019 stands at A$1.217bn ($826.4m) according to the third property loss estimate released by PERILS, an independent catastrophe insurance data provider.

    Asia | 14 Aug 2019
  • Australia: Greater number of bathrooms in homes leads to higher water damage claims

    Properties with open floor plans and multiple bathrooms could soon become more difficult and costly to insure, as insurers warn of a spike in the size of water damage claims.

    Asia | 14 Aug 2019
  • Australia: Early adopters of driverless vehicles likely to be uninsured

    With Australian legislation being way behind the technological advances of driverless cars, there is a risk of early adopters being on the roads without insurance coverage according to Barry.Nilsson.Lawyers principal Henry Silvester who will address this topic with delegates at the Australian Insurance Law Association (AILA)'s national conference later this year.

    Asia | 13 Aug 2019
  • Pacific: Region sees largest composite pricing increases in 2Q - Marsh

    Premium price gains in the Pacific region, including Australia and New Zealand, tripled the pace of global increases in the second quarter of this year, a Marsh report shows.

    Asia | 13 Aug 2019
  • Australia: AMP settles for new deal to sell life insurance operations

    Wealth management giant AMP has revised the terms of the sale of its life insurance business to British insurer Resolution Life, after it announced last month that a deal to sell the operations was being blocked by the Reserve Bank of New Zealand unless assets underpinning the policies of New Zealand residents were given ring fenced.

    Asia | 12 Aug 2019
  • Australia: Thailand pullout boosts IAG net profit to over A$1bn for FY2019

    Australia's second largest insurer by market value, Insurance Australia Group (IAG), has announced that its net profit for the financial year ended 30 June 2019 jumped by 16.6% to A$1.08bn ($733m). Analysts had been expecting profit of about $1bn.

    Asia | 09 Aug 2019
  • Australia: Suncorp undergoes leadership restructure

    Following major changes involving the establishment of a new customer and digital function, Suncorp CEO of customer marketplace Pip Marlow has decided to leave the business effective end of August. The new function will be led by Ms Lisa Harrison, who will become the Australian insurance, banking and finance corporation's chief customer and digital officer.

    Asia | 07 Aug 2019
  • Australia: Townsville flood insured losses exceed A$1bn

    Insured losses arising from the Townsville monsoonal floods in February this year have reached A$1.24bn ($840m), says the Insurance Council of Australia (ICA).

    Asia | 06 Aug 2019

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