Australia

Mirella Robinson takes on newly created CTO role at MLC Life Insurance

February 28 2024

Robinson's appointment aligns with MLC Life's broader efforts to enhance its technological capabilities and systems.

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NSW launches Australia's first State Disaster Mitigation Plan to help combat rising nat cat costs

February 23 2024

Plan promises a proactive approach to disaster risk reduction including improved early warning systems and reviews of building codes and insurance levy arrangements.

ICA backs Australian plan to bring in climate disclosure standards by 2027

February 22 2024

Australian emissions disclosure plans would see standards implemented ahead of other Asia Pacific developed economies such as Hong Kong and Singapore.

Western Australia braces for ex-tropical cyclone Lincoln's return

February 21 2024

The cyclone is set to reintensify, after previously causing extensive rainfall in the NT, and is part of a series of weather challenges facing Australia.

Australian Competition Tribunal approves ANZ's acquisition of Suncorp's banking business

February 20 2024

Tribunal overturns ACCC's decision, paving way for AU$4.9bn (US$3.2bn) acquisition, with Group CEO commenting the move will significantly strengthen Suncorp's ability to meet evolving insurance needs.

Gallagher Australia acquires mining sector specialist Ansin Insurance Brokers

February 19 2024

Acquisition of the Perth-based broker is Gallagher's first M&A activity of the year.

APRA introduces standardised terminology for large exposure reporting

February 19 2024

Standardised counterparty and exposure description lists aim to improve data quality and comparability.

QBE Insurance’s profit more than doubles on strong premium growth

February 16 2024

Despite challenges from inflation and catastrophe claims, QBE reports a significant profit increase and optimistic underwriting outlook for 2024.

Insurance Council of Australia labels Victoria's Valentine's Day storms a 'Significant Event'

February 16 2024

Storms left half a million without power and have led to nearly 10,000 claims so far.

APRA Chair highlights importance of insurance affordability and accessibility amid rising risks

February 15 2024

John Lonsdale was speaking to the Senate Economics Legislation Committee about APRA's interim supervision and policy priorities.

Tasmania maintains 'insurance tax' as Fire Services Levy reform put on ice

February 14 2024

Fire Services Levy reform hits standstill, leaving state as Australia's last to tax insurance for emergency services funding.

perils-pegs-initial-loss-of-australias-2023-christmas-storms-at-au1-4bn

PERILS pegs initial loss estimate of Australia's 2023 Christmas Storms at AU$1.4bn

February 14 2024

PERILS's first insurance loss estimate, for storms, that hit QLD, VIC, and NSW between 23 and 29 Dec, is AU$1.4bn (US$900m).

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