Eight in 10 homeowners show little interest in spending to make their home more resilient to natural disasters, according to research commissioned by insurance, banking and finance group, Suncorp.
Losses emanating from the heavy rainfall and severe flooding in Australia's eastern states in March this year are expected to put pressure on Australian general insurers' underwriting margins.
Almost half of Australians in a survey said that they would need more than A$1m ($762,000) for a comfortable retirement, but experts say that in reality, they might not actually need that much.
Australian owned insurance and financial services broker Honan Insurance Group (Honan) has launched Honan Re, a new reinsurance offering to the broker marketplace.
Almost half of Aussies in a survey said that they would need more than A$1m ($762,000) for a comfortable retirement, but experts say that in reality, Aussies might not actually need that much.
The Australian Prudential Regulation Authority (APRA) is proposing revisions to a prudential standard to counter the potential risk from life insurers' increased use of offshore reinsurers, and to improve clarity on key definitions.
AIA Australia's (AIAA) acquisition of The Colonial Mutual Life Assurance Society's (CMLA) insurance portfolio supports AIAA's position in the Australian life insurance market, S&P Global Ratings says.
Negative discount rates are not expected to be a significant issue for the liabilities of general insurers, says the Actuaries Institute furnishing a general insurance (GI) specific response to a discussion paper issued by the Australian Prudential Regulation Authority (APRA).
The Actuaries Institute says that it believes there might be a positive opportunity for the government to enhance the depth of the fixed interest markets in Australia through the issuance of bonds with maturities falling in the years ranging from 2031 to 2051 (and possibly beyond).
International professional services firm Deloitte is expanding its superannuation and wealth management advisory business, by taking in the team from leading financial services consultancy Rice Warner.