Insurance Australia Group (IAG)
Barnett & Barnett reveals post-MBO rebrand
Barnett & Barnett and NBJ are rebranding as ICB Group from 1 May following their management buyout from IAG in December.
‘Worrying trend’ for over-regulation making UK market less competitive
Rising regulatory costs are becoming a financial burden the UK’s insurance market can ill afford in the face of international competition, Lloyd’s finance director Luke Savage has warned.
Success of Esure float boils down to accurate pricing in current market
Esure could err on the side of caution when it comes to pricing its stock as it aims to follow Direct Line Group onto the London Stock Exchange, analysts have suggested. The personal lines insurer confirmed plans to float as it revealed its 2011 result.
IAG to write off $260m following Equity sale to Aquiline Partners
Insurance Australia Group has announced that it recorded a loss of $182m in respect of its "discontinued" UK operations in the six months to 31 December 2012.
IAG triples profit
Insurance Australia Group tripled its profit in the second half of 2012, the first half of its financial year.
IAG receives over 5000 claims from Australia floods
Insurance Australia Group's insurance businesses NRMA Insurance and CGU have received 5600 claims following damage from ex-tropical cyclone Oswald in Queensland and New South Wales.
Editor's comment: Paying the price for profitability
As 2012 draws to an end, UK insurance industry debate centres on the one topic most likely to dominate headlines come the new year: profitability pressures in the motor insurance market.
Aquiline boosts Lloyd's foothold with cut-price acquisition of Equity Red Star
Aquiline Capital Partners' acquisition of Equity Red Star for £87m – a far cry from the £570m IAG paid for Equity Insurance Group in 2006 – marks the New York-based firm's latest foray into the Lloyd's market.
IAG sells Independent Commerical Brokers for £10m
Insurance Australia Group has sold Independent Commercial Brokers to the existing management team for £10m.
IAG sets sights on Asia growth after UK sales
Insurance Australia Group announced the sale of all its UK operations today as the company aims to strengthen its footprint in Asia.
IAG confirms Equity Red Star sale ahead of huge predicted losses
Insurance Australia Group has confirmed the sale of its UK business to Aquiline Capital Partners, following the completion of a strategic review in which the firm predicted net losses of £156m after tax.
Hastings CEO Fitzmaurice replaced by NBNK boss
Hastings Insurance Group has appointed Gary Hoffman as group chief executive with effect from 1 November 2012.
Insurer-owned brokers: An endangered species?
The insurer-owned broker has become a permanent industry fixture in recent years, but a number of sales may have put the model in doubt. Are its days numbered?
Tungsten evaluating Equity bid
The investment vehicle, helmed by Edmund Truell, is believed to be considering an offer for the IAG-owned insures.
IAG maintains silence on UK business sale
Insurance Australia Group has stressed that writing off its remaining goodwill and intangible assets in the UK business is not necessarily a sign that it will sell that division.
IAG sheds $300m assets ahead of potential UK business sale
Insurance Australia Group has written off AUD$297m (£196.6m) remaining goodwill and intangible assets associated with the UK business just months before it decides whether to sell its loss-making divisions.
IAG to spend £66m on Asian market
International Australia Group has set aside £66m to acquire businesses in Asia in a bid to boost its gross written premium contribution to 10% by 2016.
IAG's Asian investment paying off
Insurance Australia Group is starting to gain "real traction" in Asia, according to chief executive Mike Wilkins.
Asia’s next big growth market
Asia-Pacific is still very much the place to be in insurance terms but as Jenni Marsh reports the less traditional markets, outside of China and Japan, are expected to be the real growth stories in the coming years.
IAG mulls Equity Red Star sale as experts debate motor future at Lloyd's
With Insurance Australia Group toying with the idea of selling the largest Lloyd's motor underwriter Equity Red Star, and aggregators controlling more power in this area, the days of motor in the Lloyd's market could well be numbered.
Post magazine - 24 May 2012
The latest issue of Post is now available to subscribers as a digital and interactive e-book.
IAG to undertake strategic review of UK business
Insurance Australia Group will be undertaking a strategic review of its UK business.
IAG boss Wilkins admits it may dump loss making UK business
IAG managing director and chief executive Mike Wilkins has said that now is an appropriate time to assess the options for the UK business, given the improvement in its performance and the current UK economic conditions.
IAG continues Asian expansion with Vietnam acquistion
Insurance Australia Group has entered into a conditional agreement to acquire 30% of Vietnam-based AAA Assurance Corporation.