Latest Insurance News

Netwealth says two subsidiaries have been served with a class action linked to First Guardian investment options offered through its superannuation master fund. The claim follows a $101 million compensation program completed in January, but the announcement does not disclose the new action’s potential cost.

Ramsay Health Care delivered stronger FY26 earnings, a higher fully franked dividend and improved Funding Group leverage as it prepares to separate Ramsay Santé. The proposed demerger remains conditional, but the company has set a clear timetable for the next phase of its portfolio reshaping.

2 Cheap Cars has opened FY27 with a sharp lift in unaudited profit and margins, even as vehicle volumes declined. The improvement arrives alongside Sena & Co’s increased NZ$0.90-per-share takeover offer, which remains conditional on reaching 90% voting control by 30 September.

Southern Cross Gold’s Sunday Creek project has cleared its first formal mining licence hurdle, with Resources Victoria accepting a 30.7-hectare application covering the Golden Dyke workings. The milestone begins a public assessment process, but does not yet authorise mining.

Tower has renewed its FY27 reinsurance programme with $970 million of catastrophe protection, higher limits for a third catastrophe event and a lower expected reinsurance cost ratio. The insurer says several new multi-year agreements should also improve certainty around future costs and catastrophe excesses.

MyState delivered a sharp rise in FY26 profit as Auswide integration produced $11.8 million in run-rate synergies, while the group lifted its full-year dividend to 24.5 cents per share. The next test is turning early integration gains into a larger payoff without losing control of technology costs and credit risk.

Livium’s insurer has settled five claims linked to the 2019 Envirostream fire, leaving the battery recycler with no remaining fire-related provision and no settlement cash outflow. The accounting benefit arrives in FY27, after a modest additional expense in FY26.

South Port New Zealand delivered record FY26 earnings and cargo volumes, lifting its annual dividend to 29.0 cents per share. The next test is whether its core Southland trade can hold up as one-off wind farm cargo disappears and the port enters a leadership transition.

Seeka has raised its full-year profit before tax guidance after strong third-quarter trading, with citrus growth and New Zealand kiwifruit returns adding to margin gains. The company now expects profit before tax of $41.0 million to $45.0 million.

Medibank delivered higher FY26 operating profit, underlying earnings and dividends, while its health services arm posted strong growth after the Better Medical acquisition. The annual report also leaves investors weighing cybercrime litigation, capital flexibility and the pace of Medibank Health’s expansion.

The Supreme Court of Victoria has approved FleetPartners’ $27 million settlement of shareholder class action proceedings. The company says available insurance proceeds will cover the full amount, with no admission of liability.

Dubber AI has agreed to acquire selected Daisee assets, including customer contracts and conversation intelligence technology, for up to A$1.25 million. The deal brings Daisee's nearly A$1.7 million of annual recurring revenue into a contact centre AI platform focused on insurance and financial services.