Latest Insurance Sector News

The Australian Wealth Advisors Group has deepened its Equity Partnership Scheme with strategic stakes in Oneledger and B2B Invest, setting up royalty revenue streams that align with its expansion in financial services.

The ACCC has decided not to oppose Insurance Australia Group’s proposed acquisition of RACQ Insurance, finding that competition in Queensland’s motor and home contents insurance markets remains robust despite the deal.

QBE Insurance Group has finalised the resale and buyback of its US$400 million perpetual capital notes, leading to their cancellation and delisting from the Singapore Exchange.

QBE Insurance Group has priced a AUD 600 million subordinated notes issuance, strengthening its capital base under APRA regulations with notes maturing in 2036.

Insurance Australia Group (IAG) has entered a strategic alliance with The Royal Automobile Club of Western Australia (RAC), acquiring RAC Insurance and securing a 20-year exclusive distribution agreement. This move significantly boosts IAG's presence in Western Australia and is expected to enhance earnings and operational synergies.

QBE Insurance Group has announced plans to issue AUD subordinated notes as part of its capital management strategy, aiming to strengthen its Tier 2 capital base. Details on pricing and timing will follow, contingent on market conditions.

Aeeris Ltd delivered solid Q3 FY2025 results, driven by strong recurring revenue growth, a successful new product launch, and strategic moves to internalise key forecasting capabilities.

Challenger Limited reported a robust 12% increase in normalized NPAT to $225 million for 1H25, underpinned by strong earnings, dividend growth, and strategic investments in technology and distribution channels.

Insurance Australia Group Limited has announced a quarterly distribution of AUD 1.5191 per Capital Note 3 security, partially franked at 60%, payable on March 17, 2025.

IAG reported a 91% surge in net profit after tax to $778 million for 1H25, boosted by favourable weather conditions and a $200 million release from COVID-related provisions. The insurer declared a 12 cents per share interim dividend, underscoring its strong capital position and commitment to customer support amid ongoing economic pressures.

Suncorp Group has reported a robust $1.1 billion net profit for 1H25, buoyed by a benign natural hazard season and the sale of its banking arm. The insurer is set to return $4.1 billion to shareholders, marking a significant milestone in its strategic simplification.

Vection Technologies has secured a three-year, AUD$575k partnership with global insurer Generali to deploy AI-driven extended reality solutions enhancing workplace safety and client engagement.