ASX Announcements
IAG update on Tropical Cyclone Alfred
Progress Report
Issued Capital - Other, Cleansing Notice
Update - Dividend/Distribution - IAG
Dividend Record Date, Dividend Pay Date, Dividend Rate, Dividend Reinvestment Plan
IAG prices wholesale subordinated note issue
Issued Capital - Other
IAG announces wholesale subordinated note issue
Issued Capital - Other
This Month
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.
December 2024
ASIC slams insurers for gaping holes in complaints systems
“We are extremely disappointed with what we found here,” ASIC commissioner Alan Kirkland said, putting IAG, QBE and Suncorp on notice.
November 2024
IAG didn’t register Greensill Capital insurer with ASIC: court claim
Greensill Capital’s key insurance agency did not have approval from regulators to act as an insurer when it was half-owned by $20 billion group IAG, new court documents allege.
How IAG boss Nick Hawkins weathered the perfect storm
In the past four years, the CEO of the $20b insurance giant has battled both cyclonic conditions and swirling regulators and politicians.
Hello sunshine! IAG can’t resist pull up north
Strategically, the RACQ Insurance acquisition is a sound deal. Its success (or otherwise) comes down to price.
IAG in big Queensland push with $855m RACQ insurance deal
The major insurer already owns NRMA and CGU, and has a joint venture with RACV. This deal gives it access to RACQ’s 1.7 million members.
October 2024
ASIC sues QBE for misleading half a million customers on price
ASIC’s action against QBE on Wednesday follows similar cases against NRMA and RACQ, who paid big fines last year.
How insurers failed when flooded customers needed them the most
A parliamentary report has made 86 recommendations to improve claims handling, calling for government intervention to stop new developments on flood plains.
September 2024
Beware Donald Trump’s threat to insurers, including in Australia
Australia’s insurers are red-hot with investors. They are finally delivering. But keep an eye on Canberra, as Donald Trump reminded us overnight.
The fury of the frequent flyer
Airline loyalty programs have tested customer patience and now face government probes. They won’t be nearly as lucrative in the future if customers end up loathing the associated airlines.
August 2024
What I learnt from 30 CEOs in 30 days
The profit season has delivered a confusing picture of an economy stuck between cycles. Here are 30 nuggets to help investors navigate this tricky environment.
IAG blames construction costs for higher premiums
The cost of subcontractors in Victoria rose by 18pc in the past year, putting pressure on housing insurance premiums across the country.