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Ace Insurance Purchase Chubb Insurance
Ace to become Chubb in giant merger deal Zurich-based global insurer Ace has agreed to buy US-based Chubb Corporation for $US28.3 billion ($37 billion) in what is believed to be the largest-ever deal between two insurance companies. Ace shareholders will take 70% of the new company, which will operate under the Chubb name. Ace CEO […]
NTI Insurance takes over Lumley Heavy Motor
National Transport Insurance taking over Lumley Heavy Motor Lumley’s heavy motor and mobile plant and equipment portfolios will transfer to National Transport Insurance (NTI) from July 1, CGU has recently announced. NTI Insurance is already the country’s leading truck insurer, and incorporating the portfolio of a former major competitor can only increase its market dominance. […]
Berkshire Hathaway Insurance Entering Australian Market
IAG and Berkshire Combine Forces *Press release from IAG Today IAG has announced a long-term strategic partnership with Berkshire Hathaway Insurance that will enable both our companies to draw on each other’s strengths to better service customers and deliver superior business outcomes. This is an exciting move for IAG that gives us the long-term backing of […]
Insurance Council of Australia
All About the ICA The Insurance Council of Australia is the representative body of the general insurance industry in Australia. Its members represent more than 90 per cent of total premium income written by private sector general insurers. Insurance Council members, both insurers and reinsurers, are a significant part of the Australian financial services system. […]
Macquarie Bank Interest Rate Commentary
The Reserve Bank Board met this week and kept official interest rates on hold at 2.0%. Having cut official rates in May, we expect the RBA will now pause for several months to assess the impact of these historically low interest rate settings. Stronger consumer confidence Today’s decision would have been influenced by the strong […]