Howden, the international insurance broker, part of Howden Group Holdings, announced yesterday that it is building on its 20-year relationship with Steadfast, the Australian insurance intermediary network, by forming a strategic partnership to support Steadfast's London Market broking requirements and launching an Australian broking operation in association with Steadfast.
QBE, Australia's largest insurer in terms of premium income, has finalised renewal of the Group's reinsurance programme effective 1 January 2021, the company says in a statement.
Within Australia's insurance job market, the skills in greatest demand this year include those of brokers with a Tier 1 qualification and at least five years of experience, according to a report by the global recruitment and human resources services firm, Hays.
Willis Towers Watson (WTW) has announced the appointment of Lee Garvey as head of financial solutions for Australia and New Zealand to lead the expansion of the Financial Solutions business across the Australasia region.
One of Australia's biggest insurers, Insurance Australia Group (IAG), will take an A$1.15bn ($891m) hit to earnings before tax in its half-year (1 July to 31 December 2020) results, as it prepares for a potential flood of pandemic-related business interruption claims, according to a statement released by the company.
PERILS, the independent Zurich-based organisation providing industry-wide catastrophe insurance data, yesterday disclosed its fourth and final industry loss estimate for the Australian bushfires of 2019/2020.
The government has announced plans to shut down the Financial Adviser Standards and Ethics Authority (FASEA) and transfer its functions to two other government units. Legislation implementing these reforms will be introduced into Parliament by June 2021.
QBE's capitalisation metrics are expected to remain solid despite an expected 2020 statutory loss, says Fitch Ratings in a report last month.
The Australian Competition and Consumer Commission (ACCC) has concluded its three-year inquiry into insurance affordability and availability in northern Australia and how to promote more informed and more competitive insurance markets.
Insurance consumers in US are generally more satisfied with the digital claims channels of their insurers than the consumers in the UK, Australia, New Zealand and Hong Kong.