Yesterday Insurance Business reported on a group buying initiative headed up by a former insurance boss but the industry has slammed the move, demanding greater disclosure and accusing it of “spruiking nonsense”.
An Aussie insurer plans to raise millions to partially fund the acquisition of an underwriting business it earmarked to buy last year.
A growing amount of business was placed with unauthorised foreign insurers between July and December last year, with players from two countries in particular gaining a large chunk of that business.
For the second year running, Insurance Business has ranked Australia’s brokerages to find the top performer in the country. Who came in at number one?
Relying too heavily on catastrophe models without thorough research and analysis can be detrimental to insurers and the industry, says one insider.
The use of unrated insurers is igniting furious opposition from chartered brokers in the UK, so much so that they are asking for regulators to ban intermediaries from using them.
Homeowners, fire and industrial special risks, and domestic motor delivered increased net earned premium but investment income lagged throughout 2013.
The Insurance Council of Australia has responded to fears that a wide-ranging review of the General Insurance Code of Practice will be “buried”.
General insurance profit and premiums for the industry climb thanks to personal lines and industrial special risks.
An international insurance player has called on APRA to improve its general insurance data, warning that Australia could be excluded from its global studies if more detailed statistics are not provided.