National Australia Bank (NAB) has agreed to sell 80% of its life insurance arm to Japan's Nippon Life Insurance Co for about US$1.7 billion, said a person familiar with the matter.
Retirees are grappling with rising costs for essential goods and services, seeing the cost of funding a comfortable retirement increase by 3.7% over the last 12 months, according to data released by the Association of Superannuation Funds of Australia (ASFA).
Steeper home insurance premiums have caused the number of Australian households experiencing home insurance affordability stress to rise by 30% to 1.6m in the past year, a new report published by the Actuaries Institute shows.
An increase in the demand for longevity solutions is necessary for insurers to be incentivised to develop a business case to invest in this arena, and accurately and sustainably price risks.
The Australian and New Zealand Institute of Insurance and Finance (ANZIIF) has announced the winners of the 20th Australian Insurance Industry Awards.
AUB Group, which is placed by AM Best's Review on the "Top 20 Global Brokers 2024" list, has agreed to acquire an 80% equity stake in the Movo Group of Companies (Movo).
IAG, the biggest non-life insurer in Australia and New Zealand, has announced its results for the financial year ended 30 June 2024, reporting a net profit after tax (NPAT) of A$898m ($605.3m), an increase of 7.9% on FY23.
Australia has dealt with cyber breaches of some major companies including financial and insurance companies, says QBE Insurance.
Brisbane-headquartered Suncorp Group yesterday reported an increase in earnings driven by improved underlying margins, positive investment returns and natural hazard costs below allowances.
Aviva Investors has appointed Mr Denis Resovac as head of insurance solutions sales. In this newly created role, he will be responsible for leading the development of investment solutions for Aviva Investors' insurer clients across APAC.