September
Pemba in exclusive talks to buy Allianz’s Hunter Premium Funding
Sources said Pemba came back to the table once it was certain it could finance the hefty warehouse component, which had been a sticking point for several suitors.
- Sarah Thompson, Kanika Sood and Emma Rapaport
August
How a plumbing time bomb is costing insurers and pushing up premiums
Insurers have warned that a rising number of claims stemming from flexible pipes bursting will lead to a rise in general insurance premiums.
- Gus McCubbing
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.
- James Eyers
- Opinion
- Chanticleer
Why your fancy fridge is pushing up insurance bills
The cost inflation that’s sent insurance premiums surging is starting to moderate. But Suncorp boss Steve Johnston says there is stickiness in strange places.
- James Thomson
Suncorp says insurance premiums will continue to rise
The Queensland insurer said water damage from busted pipes is putting pressure on home insurance premiums even as global reinsurance rates stabilise.
- James Eyers
Cyclone damage bill at South32’s Groote manganese mine hits $171m
The lucrative operation is owned jointly with Anglo American. New filings show the two diversified miners are injecting more money to resume exports next year.
- Peter Ker
The one question NRMA boss Julie Batch uses to progress her career
She comes from a long line of insurance executives. Earlier in her career she worked in Monaco in the reinsurance industry.
- Sally Patten
QBE punished as price rises peak
UBS analyst Scott Russell says there is a “clear slowdown” in QBE’s pricing power.
- Lucas Baird
July
- Opinion
- Chanticleer
743 days later, ANZ has little to cheer as Suncorp deal closes
After more than two years, ANZ’s $4.9 billion acquisition of Suncorp is finally complete. But the mood inside the two companies is wildly different.
- James Thomson
CrowdStrike failure raises billion-dollar compensation question
Insurers could bear the brunt of costly fallout from the global IT outage on Friday, as techies at companies worked over the weekend to get services back up and running.
- Paul Smith and Ronald Mizen
- Opinion
- Chanticleer
This super fund is cashing in on climate risk
Insurers love telling us how hard and expensive it is to get reinsurance, so it is good to see an Australian super fund - MLC super - making money from it.
- Anthony Macdonald
Suncorp dumps Warren Buffett insurance-protection deal
The decade-long arrangement had split the risks and rewards of the insurer’s exposure to weather in Queensland, covering 30 per cent of its home policies.
- Liam Walsh
Why the local CEO of this $26b company likes her commute
When QBE Australia chief Sue Houghton rises at 6am, the self-described introvert relishes a walk on her own.
- Sally Patten
Aged care insurance fees jump on threat of fines and jail
Premiums have doubled for some aged care providers and directors, due to potential big fines and jail time for breaching proposed tougher laws.
- John Kehoe
June
ANZ boss says Suncorp ‘migration’ can avoid Westpac’s St George pain
Shayne Elliott insists he’s learnt from Westpac’s failure to integrate St George, while Suncorp’s Steve Johnston says he can now focus fully on insurance.
- James Eyers, Liam Walsh and Tom Richardson
IAG says premium pressure easing as shares soar on profits
Shares in IAG jumped on Friday as the insurance giant announced that earnings were likely to come in at the top of forecasts.
- Liam Walsh and James Eyers
- Updated
- Mergers & acquisitions
Chalmers approves ANZ’s $4.9b Suncorp deal
The decision paves the way for the biggest merger in banking since the Commonwealth Bank took out ailing Bankwest during the global financial crisis in 2008.
- Updated
- James Eyers
British law firm DWF bulks up Down Under
Just three years ago DWF slashed its Aussie headcount. Now the insurance-focused business is bulking up again, buying local claims management firm Proclaim.
- Hans van Leeuwen
Allianz in $1b refi of Hunter Premium Funding, calls off auction
Lender sources told this column on Wednesday that the refinancing was in the preliminary stages, and would likely have a deal value around the $1 billion mark.
- Sarah Thompson, Kanika Sood and Emma Rapaport
Helia shares plunge as CBA shops around mortgage contract
The insurer shed almost a fifth of its market value after its biggest client, the Commonwealth Bank, said it would run a tender process for its existing contract.
- Jonathan Shapiro