Australia
RACQ to sell 90% of insurance business to IAG
RACQ to sell 90% of insurance business to IAG
If completed, the transaction alter the strategic positioning of the broader group.
Australia’s private health insurers’ profit surges 64% YoY in September quarter
Total assets gradually increased 2.1% YoY to $13.06b.
Resolution Life acquisition could add $330m to Nippon Life's profit
Fitch views the transaction as credit-positive for Nippon Life.
Australia warns of spike in theft claims amidst holiday season
Half of Aussies said they planned for 4-day vacations, leaving homes vulnerable.
ICA to consult on motor vehicle insurance code update
The initial draft was supposed to be released within this year.
Insurers alert to higher cyclone, flood risks in Australia
The threat of tropical cyclones remains high in northern Australia.
Australia’s general insurance sector to see profitable 2025 ahead
For FY 2024, gross earned premium grew by 11%.
Australia’s super system could save $1b under proposed tax reforms
One measure proposed to introduce uniform tax policies across all accounts.
Mental health claims surge amongst Aussie millenials, boomers
Men are 60% more likely than women to file such claims.
ICA proposes 17 steps to improve strata insurance outcomes
Key proposals include stricter education requirements for strata managers.
Australian insurers see revenue growth in the September quarter
Total assets totalled $174b during the period.
Ageing workforce fuels talent crisis in Australia’s insurance sector
About 58% of insurance professionals in the country are over 45.
Allianz Australia’s RAA acquisition to boost market position: S&P
Allianz Australia’s capital adequacy is not expected to be affected by this.
Zurich buys AIG travel insurance for $600m
This positions Zurich as one of the world’s largest travel insurers.
Allianz Australia to acquire RAA’s general insurance business
The transaction is expected to be completed by mid-2025.
Suncorp partner with Duck Creek Technologies to digitalise operations
It aims to replace multiple on-premises legacy systems.
RACQ Bank’s insurance arm sale heralds' step towards revenue stability: report
Revenue from its insurance business has been volatile, according to Moody’s Ratings.
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