ASX Announcements
Change of registry address notification
Details of Share Registry address
IAG update on NSW Mid North Coast and Hunter Floods
Progress Report
ACCC decision on IAG and RACQ strategic alliance
Asset Acquisition, Company Administration - Other
Market Sensitive
AXX: Proposed acqn of RACQ Insurance by IAG not opposed
Company Administration - Other
Redemption of $450 million Subordinated MTNs
Issued Capital - Other, Letter to Shareholders
Today
Is it time for standalone Suncorp to find its Warren Buffett?
The company promised us a leaner, meaner insurer. Investors are yet to see it. However, the next few weeks could be telling.
May
IAG gets regulator tick to buy automobile club insurer in Queensland
The ACCC said Suncorp, Allianz, QBE, Youi, Auto & General and Hollard would compete with IAG after it buys RACQ.
How $2.3b worth of deals could entrench another Australian duopoly
IAG’s alliances with the Royal Automobile Clubs of Queensland and Western Australia are clearly clever plays. But could they also attract the ACCC’s ire?
Insurance Australia Group goes west with $1.35b RAC buy
IAG will add The Royal Automobile Club of Western Australia to its brand portfolio after striking a similar deal in Queensland six months ago.
IAG wins auction for Royal Automobile Club WA with $1.35b bid
The deal, signed overnight and announced on the ASX on Thursday morning, comes after Street Talk revealed the sale process and the two bidders last year.
The Pharmacy Guild’s insurance biz brings in UBS
ASX-listed insurance giant Suncorp and Employers Mutual Limited are known to be keeping a brief on the niche insurer.
April
Will insurance premiums ever get cheaper?
The country’s big insurers have found themselves in a political storm as the cost of policies balloons $30 billion over a decade. But are those hikes unfair?
Greensill Bank alleges IAG executives knew of billion-dollar policies
The claim, filed with the Federal Court, has been brought against the insurance giant by German investors owed money by Lex Greensill’s failed financial group.
March
IAG seeks to delay trial on $7b Greensill insurance claims
Greensill Capital’s biggest insurer is less than a year away from defending claims that were lobbed after Lex Greensill’s financing firm collapsed in 2021.
UK orders probe into energy grid after Heathrow shutdown
Friday’s fire at an electricity substation that shut down Europe’s busiest airport raises questions about the resilience of the country’s infrastructure.
The $400,000 gap putting Alfred victims on notice
Widespread underpayments by insurance companies in the 2022 Victorian floods mean claimants should look carefully at what their insurer first offers.
Canberra shields insurance companies from cyclone losses
The Australian Cyclone Reinsurance Pool covers insurers for damage when weather is classified as a cyclone – and for 48 hours from the time it is downgraded.
IAG, Allianz eyeball Royal Automobile Club WA
IAG is understood to be working with Goldman Sachs while Allianz has JPMorgan along for the ride.
February
Insurers call for $30b flood defence fund to protect properties
After Peter Dutton said he wanted to break up insurers, the industry wants to partner with governments to strengthen infrastructure and relocate the most vulnerable buildings.
QBE boss hits back: high insurance premiums are due to risk
Andrew Horton has issued the first response from an insurance industry boss since the opposition leader threatened to break up companies.
IAG says LA wildfires were a wake-up call on disaster preparation
The insurance giant, which owns the NRMA and CGU brands, reports a 91 per cent jump in interim profit, but its shares fell as premium rises moderated.
What we learnt: This is what’s behind the blue-chip battering
It was sell first, ask questions later on Thursday as some ASX big names were dumped. Why? It’s all about the outlook.
Suncorp confident it can rise to challenge of Queensland floods
The deluge will not push up insurance premiums thanks to strong buffers, the CEO of the Brisbane-based insurer said after its interim results impressed.
Greensill creditors’ $7b pursuit of IAG could be sent to sixth judge
Companies chasing billions of dollars argue a recently appointed Federal Court judge might be seen to be biased because he once acted for one of the parties.
January
Californian fires to push premiums higher, worsening poor policy cover
The rising cost of insurance policies has already meant a third of about $60 billion in natural disaster damage over the past decade was left uninsured.