INSURANCE COMPANIES – AUSTRALIA

Business as usual at Medibank: MD

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Original article by Joanna Mather
The Australian Financial Review – Page: 10 : 1-Sep-14

The Australian Government’s Medibank Private IPO will proceed in December 2014 and is expected to be worth up to $A4bn. Finance Minister Mathias Cormann notes that an independent scoping study concluded that premiums are unlikely to increase when Medibank is privatised. Medibank CEO George Savvides has assured members that the quality of service will not be affected by the privatisation

CORPORATES
MEDIBANK PRIVATE LIMITED, AUSTRALIA. DEPT OF FINANCE, AUSTRALIAN DENTAL ASSOCIATION INCORPORATED

Shareholders get dividend from nib

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Original article by Jessica Gardner
The Australian Financial Review – Page: 18 : 26-Aug-14

NIB Holdings has posted a 2013-14 net profit of $A69.9m, which is four per cent higher than previously. The private health insurer’s operating profit increased by 4.3 per cent to $A72.3m, and revenue was up 15 per cent at $A1.53bn. Shareholders will receive a special dividend of $A0.09 per share. MD Mark Fitzgibbon notes that some customers did not renew their policies after NIB increased its premiums by 7.99 per cent

CORPORATES
NIB HOLDINGS LIMITED – ASX NHF, MEDIBANK PRIVATE LIMITED, CLSA AUSTRALIA PTY LTD, STANDARD AND POOR’S ASX 200 INDEX, ISELECT LIMITED – ASX ISU, COMPARE THE MARKET PTY LTD

IAG focuses on the bottom line

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Original article by Michael Bennet
The Australian – Page: 21 : 20-Aug-14

Insurance Australia Group (IAG) has announced a 2013-14 full-year net profit increase of 59% to $A1.23bn, as gross written premiums also lifted 3% to reach $A9.8bn. The 12-month distribution has been boosted 8.3% to $A0.39, and on 19 August 2014 the stock closed $A0.03 higher at $A6.20. CEO Mike Wilkins said the Australian-listed company would focus on improved margins rather than to defend market share, as smaller rivals such as Youi, Budget and Progressive as well as supermarket chains and major banks expand their business

CORPORATES
INSURANCE AUSTRALIA GROUP LIMITED – ASX IAG, QBE INSURANCE GROUP LIMITED – ASX QBE, SUNCORP GROUP LIMITED – ASX SUN, ALLIANZ AUSTRALIA LIMITED, YOUI PTY LTD, BUDGET DIRECT INSURANCE AGENCY PTY LTD, PROGRESSIVE DIRECT INSURANCE COMPANY, NRMA INSURANCE LIMITED, SGIO INSURANCE LIMITED, WESFARMERS LIMITED – ASX WES, CITIGROUP PTY LTD, UBS HOLDINGS PTY LTD

IAG lifts full-year profit margin outlook

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Original article by Ruth Liew
The Australian Financial Review – Page: 17 : 25-Jul-14

Insurance Australia Group (IAG) has upgraded its full-year profit margin forecast for 2013-14 to between 18 per cent and 18.3 per cent, from the previously announced range of 14.5 per cent to 16.5 per cent. The new estimate takes the group’s profit margin to its highest levels since the company listed on the sharemarket in 2000. CEO Mike Wilkins said IAG benefited from warm weather and a lack of claims

CORPORATES
INSURANCE AUSTRALIA GROUP LIMITED – ASX IAG|ASX LIMITED – ASX ASX|NRMA INSURANCE LIMITED|CGU INSURANCE AUSTRALIA LIMITED|COMMONWEALTH BANK OF AUSTRALIA – ASX CBA|BKI INVESTMENT COMPANY LIMITED – ASX BKI|TYNDALL INVESTMENT MANAGEMENT LIMITED|GOLDMAN SACHS AUSTRALIA PTY LTD|WESFARMERS LIMITED – ASX WES

QBE eyes up RSA’s Asia division

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Original article by Ruth Liew
The Australian Financial Review – Page: 23 : 6/19/2014

Australian insurance analysts have downplayed speculation that QBE Insurance Group could bid for the Asian arm of UK-based RSA Insurance Group. The business is expected to fetch up to $A500m, and media reports have identified QBE as a potential buyer. However, Ross Curran of the Commonwealth Bank says QBE is likely to focus on consolidating its existing operations instead of seeking acquisitions

CORPORATES
QBE INSURANCE GROUP LIMITED – ASX QBE, RSA INSURANCE GROUP PLC, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, AXA SA, SOMPO JAPAN INSURANCE INCORPORATED, ALLIANZ AG HOLDING, HANG SENG GENERAL INSURANCE (HONG KONG) COMPANY LIMITED, THE GOLDMAN SACHS GROUP INCORPORATED, REUTERS HOLDINGS PLC, CREDIT SUISSE (AUSTRALIA) LIMITED