Global investment companies EQT AB and CVC Asia Pacific Ltd have ended discussions with AUB Group regarding a potential takeover of the listed Australian insurance broker. The proposed deal valued AUB at approximately A$5.2bn ($3.4bn).
Australian health insurers paid out a record A$9.4bn ($6.16bn) in 'high claims' for hospital treatment exceeding A$10,000 ($6,533) in 2024, according to a new analysis of health fund data by Private Healthcare Australia (PHA).
The Australian government has introduced legislation banning the use of adverse genetic-test results in life insurance underwriting. The measure will apply to life insurance contract decisions made on or after the date of commencement.
Podium Underwriting has been launched as a specialist MGA, operating as an appointed representative of Superian Insurance Group.
The Australian Securities and Investments Commission (ASIC) has ordered United Super, the trustee of the Construction and Building Unions Superannuation Fund (Cbus), to pay a penalty of A$23.5m ($15.3m) for unreasonable delays experienced by thousands of members and claimants arising from serious failures to handle insurance claims in a timely manner.
The Insurance Council of Australia (ICA), has announced a new collaboration to build a national data analytics fraud detection and investigations platform for the Australian insurance industry.
The New South Wales state government in Australia has proposed to outlaw the deceptive practice of insurance claims farming. It introduced earlier this month a new legislation in the state parliament with an aim to outlaw this practice for compulsory third party (CTP) claims.
Health insurance premiums in Australia are expected to rise by about 4% in 2026, says a new report by money.com.au.
While Australia's Cyclone Reinsurance Pool (CRP) has contributed to reducing pressure on insurance premiums in Northern Australia, a greater focus on climate resilience and mitigation is still required to put sustainable downward pressure on insurance costs according to the Insurance Council of Australia (ICA).
Australians of all ages are feeling the squeeze of rising costs, mental health pressures, and uncertainty about their financial futures, according to new independent research commissioned by the Council of Australian Life Insurers (CALI).