Zurich draws on global network with new Head of Financial Lines in Australia

April 10th, 2014

marc-luginbuehl 

Zurich Financial Services Australia Limited (Zurich) has announced the appointment of Marc Luginbühl to the role of Head of Financial Lines Australia & New Zealand, effective June 1, 2014. Marc has spent the last eight years serving in a variety of Financial Lines roles most recently as Head of Financial Lines for Zurich in Switzerland.  Financial Lines is a key contributor to Zurich’s success and strong reputation in Asia Pacific. He will be based in Zurich’s Sydney office. Marc brings a wealth of knowledge and expertise having worked in a number of critical corporate and underwriting leadership roles, over the past 12 years with Zurich.

Marc who is fluent in German, English and French and lists ski-touring, sailing and rowing as his favorite hobbies, will be relocating to Australia with his family. He is looking forward to leading a highly experienced Financial Lines underwriting team and working closely with Zurich’s key broker networks to provide perfectly tailored solutions for our customers.

Follow Us twitter  Follow us on Google+ facebook

Life Insurance Quotes

Quotesonline Free Insurance Quotes

Please note Quotesonline Insurance News is an information service provided by third parties Insure 247 Australia doesn’t warrants the accuracy of any information contained there in, readers should make their own enquiry’s before relying on information in the stories Terms of Service

Please note that any advice given has been provided without taking into account your objectives, financial situation or needs. It is also based on information we have obtained from you. You must ensure the information is accurate and complete. Otherwise, this advice may be based on inaccurate or incomplete information. You should consider whether the advice is appropriate in light of your objectives, financial situation and needs. Please read the Product Disclosure Statement and contact us if you require any clarification

Be the first to like.

Life Insurer TAL Record Payout

April 8th, 2014

Income Protection  Life insurance quotes Trauma insurance quote 

New figures show that Australia’s leading life insurance specialist TAL paid out more than $843 million in claims last year, a massive increase of 45% over the previous year’s payout of $580 million.

Of the different forms of life insurance, those taken out to help people while still living account for the majority of the payments, while a payment in the event of death now accounts for just 47.5% of benefits paid.

Cancer features as the chief reason for claims in 2013 for three out of the four types of life insurance, including Life (lump sum upon death), Disability (lump sum upon permanent and total disability) and Critical Illness/Trauma (lump sum for defined illnesses).

Cancer is the third highest cause of claim for Income Protection (regular income payment upon defined illness/disability), followed by musculoskeletal/connective tissue disorders, and the leading cause, injury/fractures.

TAL Group CEO Jim Minto said the huge increase in the amount of life insurance payments made to customers in 2013 reflected an industry trend of rising claims in recent times as people become more aware of their life insurance benefits.

About TAL

TAL is a specialist life insurance company with leading competitive offerings in each of its core distribution channels: direct to customers; through financial advisers; and through group and workplace superannuation schemes. With in-force premiums of $1.8 billion, TAL is the largest life insurer in Australia. TAL is owned by The Dai-ichi Life Insurance Company Limited, one of the top 10 life insurers in the world.

Follow Us twitter  Follow us on Google+ facebook

Life Insurance Quotes

Quotesonline Free Insurance Quotes

Please note Quotesonline Insurance News is an information service provided by third parties Insure 247 Australia doesn’t warrants the accuracy of any information contained there in, readers should make their own enquiry’s before relying on information in the stories Terms of Service

Please note that any advice given has been provided without taking into account your objectives, financial situation or needs. It is also based on information we have obtained from you. You must ensure the information is accurate and complete. Otherwise, this advice may be based on inaccurate or incomplete information. You should consider whether the advice is appropriate in light of your objectives, financial situation and needs. Please read the Product Disclosure Statement and contact us if you require any clarification

Be the first to like.

NM Insurance plan for growth in Motor Cycle Insurance

April 7th, 2014

NM Insurance has announced an expansion of its joint venture with Yamaha Motor Australia.The motor cycle giant and marine insurer have had a strong relationship over the past two years with their personal water craft insurance, now they have extended the relationship with an agreement that will see the insurer take advantage of Yahama’s distribution network to sell it’s motor cycle insurance.

Its comes as Steadfast were announced as an equity partner of NM Insurance with a 70% of the share capital. Steadfast is Australia’s largest network of insurance brokers, with more than 455 offices across Australia and New Zealand.

Follow Us twitter  Follow us on Google+ facebook

Life Insurance Quotes

Quotesonline Free Insurance Quotes

Please note Quotesonline Insurance News is an information service provided by third parties Insure 247 Australia doesn’t warrants the accuracy of any information contained there in, readers should make their own enquiry’s before relying on information in the stories Terms of Service

Please note that any advice given has been provided without taking into account your objectives, financial situation or needs. It is also based on information we have obtained from you. You must ensure the information is accurate and complete. Otherwise, this advice may be based on inaccurate or incomplete information. You should consider whether the advice is appropriate in light of your objectives, financial situation and needs. Please read the Product Disclosure Statement and contact us if you require any clarification

 

Be the first to like.

ACCC will not stand in the way of IAG’s acquisition of Wesfarmers’ insurance underwriting business

March 26th, 2014

  

The Australian Competition and Consumer Commission has announced that it will not oppose IAG’s proposed acquisition of Wesfarmers’ insurance underwriting business.

“The ACCC found that, while the proposed acquisition would reduce the number of key underwriters from six to five for packaged farm insurance and crop insurance in Australia, the level of existing and potential competition in this market would be expected to constrain the merged firm,” ACCC Chairman Rod Sims said. “Significantly, no farmer or grower representative associations expressed concerns to the ACCC in market inquiries,” Mr Sims said.

The acquisition will see Westfarmers brands including the Lumley, Coles Insurance and WFI brands join Insurance Group Australia with a portfolio of brands in Australia including CGU, NRMA Insurance.

The ACCC’s public consultation process directed inquiries to a wide range of interested parties including rival insurers, brokers, smash repairers, and relevant industry associations including many representing primary producers. 

Life Insurance Quotes

Quotesonline Free Insurance Quotes

Please note Quotesonline Insurance News is an information service provided by third parties Insure 247 Australia doesn’t warrants the accuracy of any information contained there in, readers should make their own enquiry\’s before relying on information in the stories Terms of Service

Please note that any advice given has been provided without taking into account your objectives, financial situation or needs. It is also based on information we have obtained from you. You must ensure the information is accurate and complete. Otherwise, this advice may be based on inaccurate or incomplete information. You should consider whether the advice is appropriate in light of your objectives, financial situation and needs. Please read the Product Disclosure Statement and contact us if you require any clarification

Quotesonline google+  Insure 247 on facebook Quotesonline on Twitter

Be the first to like.

Rating Agency Affirms Ratings of Ansvar

March 17th, 2014

Ansvar Insurance

Rating agency A.M Best has affirmed the financial rating of Ansvar Australia A- (Excellent). Offsetting rating factors include Ansvar’s significantly reduced revenue base following the remediation of its underwriting portfolio, its resultant reduced market share and comparatively high level of susceptibility to higher reinsurance costs in 2012 and 2013 following the natural catastrophe events in 2011. There is concentration risk in Ansvar’s new reinsurance arrangement for its property portfolio, as it is provided by only one single reinsurer. This concentration risk is mitigated through the arrangement being written on a rolling multi-year basis.

Ansvar specialist insurance solutions and products to the Faith, Care, Education, Heritage and Community sectors.

Last month Ansvar announced renewal of a major contract with the Christian Outreach Centre (now known as International Network of Churches (INC)). The contract renewal follows five years of continuous service by Ansvar to INC, assisting the organisation across a number of key programs including its disaster-relief and social program called Global Care, and the iconic ‘Red Frogs’ school chaplaincy and ministry programs.

Source http://www3.ambest.com/

Life Insurance Quotes

Quotesonline Free Insurance Quotes

Please note Quotesonline Insurance News is an information service provided by third parties Insure 247 Australia doesn\’t warrants the accuracy of any information contained there in, readers should make their own enquiry\’s before relying on information in the stories Terms of Service

Please note that any advice given has been provided without taking into account your objectives, financial situation or needs. It is also based on information we have obtained from you. You must ensure the information is accurate and complete. Otherwise, this advice may be based on inaccurate or incomplete information. You should consider whether the advice is appropriate in light of your objectives, financial situation and needs. Please read the Product Disclosure Statement and contact us if you require any clarification

Be the first to like.

5 Ways To Save On Your Life Insurance In Australia

March 6th, 2014

save-life-insurance

Life insurance premiums are on the rise again and Australians are still under insured. So we look at ways to save on your Life Insurance

1) Stop smoking

Smokers can pay double the premium, and the money saved from not buying the cigarettes will pay for your premium. (You will still be considered a smoker for at least 12 months after giving up)

2) Shop around

Use Quotesonline.com.au or a broker to get quotes from a number of companies as there is now a large number of competitors in a competitive market.

3) Thank your parents

If your parents are free from conditions like heart disease, diabetes or cancer its likely to reflect on your premium.

4) Check the premiums over the life of the policy

Insurers will often tempt you with a lower premium at the start of the policy, so ask to see the premiums over the life of a policy

5) Stay healthy

If you are over weight just like a smoker it will have a negative influence on your life insurance policy and some insurers may even refused to insure you if you are obese.

Life Insurance Quotes

Quotesonline Free Insurance Quotes

Please note Quotesonline Insurance News is an information service provided by third parties Insure 247 Australia doesn\’t warrants the accuracy of any information contained there in, readers should make their own enquiry\’s before relying on information in the stories Terms of Service

Please note that any advice given has been provided without taking into account your objectives, financial situation or needs. It is also based on information we have obtained from you. You must ensure the information is accurate and complete. Otherwise, this advice may be based on inaccurate or incomplete information. You should consider whether the advice is appropriate in light of your objectives, financial situation and needs. Please read the Product Disclosure Statement and contact us if you require any clarification

Be the first to like.

Changes at AMP Australia’s Largest Life Insurer

March 3rd, 2014

amp-life-insurer

AMP Australia’s largest life insurer has announced that chairman Peter Mason will retire in May after 8 years at the head of the insurers board. He will be replaced by former Macquarie Group executive Simon McKeon. Under Mr Mason’s chairmanship AMP merger with AXA created Australia’s largest life insurer.

AMP also annouced that former Aviva excutive Trevor Matthews will join the Board as a non-executive director.

Dr Nora Scheinkestel has also announced her intention to retire from the board of AMP Limited at the next AGM

 

 

Life Insurance Quotes

Quotesonline Free Insurance Quotes

Please note Quotesonline Insurance News is an information service provided by third parties Insure 247 Australia doesn\’t warrants the accuracy of any information contained there in, readers should make their own enquiry\’s before relying on information in the stories Terms of Service

Please note that any advice given has been provided without taking into account your objectives, financial situation or needs. It is also based on information we have obtained from you. You must ensure the information is accurate and complete. Otherwise, this advice may be based on inaccurate or incomplete information. You should consider whether the advice is appropriate in light of your objectives, financial situation and needs. Please read the Product Disclosure Statement and contact us if you require any clarification

Be the first to like.

Insurers Reporting Mixed Results

February 24th, 2014

With half yearly profit reporting season in full swing the fortunes for our leading insurers vary, here is summary of some of the results.

Insurance Australia Group (IAG) half-year profit jumps 39% with improved performances from each of its businesses in Australia, New Zealand and Asia. IAGs brands in Australia include CGU, NRMA

Suncorp, Australia’s largest general insurer by market value with brands like AAMI, GIO and Vero. They group has said its general insurance claims expense increased 12 percent to A$3.2 billion as a number of major weather events resulted in claims about A$49 million above its allowance. At the same time revenue for it insurance operations had declined by 17%.

Wesfarmers who’s brands include wfi, Lumley are reporting their insurance division recorded earnings of $99 million, 4.8 per cent below the prior corresponding period, with results affected by a $45 million increase in reserve estimates for EQ2. During the half the Group announced the agreement to sell the Australian and New Zealand underwriting operations of its Insurance division to Insurance Australia Group for $1,845 million. The sale remains subject to regulatory approvals.

German insurance giant Allianz profit also increased by 10%. Life insurer AMP profit fell by 10.6% but it was less than the market expected in the tough conditions for life insurers in Australia.

Life Insurance Quotes

Quotesonline Free Insurance Quotes

Please note Quotesonline Insurance News is an information service provided by third parties Insure 247 Australia doesn\’t warrants the accuracy of any information contained there in, readers should make their own enquiry\’s before relying on information in the stories Terms of Service

Please note that any advice given has been provided without taking into account your objectives, financial situation or needs. It is also based on information we have obtained from you. You must ensure the information is accurate and complete. Otherwise, this advice may be based on inaccurate or incomplete information. You should consider whether the advice is appropriate in light of your objectives, financial situation and needs. Please read the Product Disclosure Statement and contact us if you require any clarification.

Be the first to like.

Life Insurer Asteron Named sponsor of Super Rugby in Australia

February 17th, 2014

 

 

2014 Asteron Life Super Rugby

asteron-super-rugby-tile

Life Insurer Asteron has become the Australian sponsor of Super Rugby.

Head of Asteron Life, Jordan Hawke, said Asteron Life’s values and strategic goals were naturally aligned with Rugby.

“In our business at Asteron Life, we are committed to ‘Celebrating Life’. The opportunity for us to extend this celebration through the Asteron Life Super Rugby season resonated with us,” Mr Hawke said.

Australian Rugby Union CEO, Bill Pulver, launched the competition with the coaches, captains and star players of the Australian Super Rugby clubs, and announced Asteron Life as the Official Naming Rights Partner. Mr Pulver welcomed Asteron Life’s three-year partnership, an agreement which runs until the end of the 2016 season.

Asteron Life is a leading life insurance provider across Australia and New Zealand and is part of the Suncorp Group of companies.

Life Insurance Quotes

Quotesonline Free Insurance Quotes

Please note Quotesonline Insurance News is an information service provided by third parties Insure 247 Australia doesn\’t warrants the accuracy of any information contained there in, readers should make their own enquiry\’s before relying on information in the stories Terms of Service

Please note that any advice given has been provided without taking into account your objectives, financial situation or needs. It is also based on information we have obtained from you. You must ensure the information is accurate and complete. Otherwise, this advice may be based on inaccurate or incomplete information. You should consider whether the advice is appropriate in light of your objectives, financial situation and needs. Please read the Product Disclosure Statement and contact us if you require any clarification.

Be the first to like.

Life Insurer AIA moving to new premises

February 12th, 2014

aia-australia-hq

 

Life insurer AIA has leased 7000 square metres over three levels in the iconic 509 St Kilda Road in Melbourne. The lease will give naming rights to AIA, the building previous tenants were fellow life insurers MLC.

AIA will relocate from their current HQ on Bourke Street in Docklands

AIA were CANSTAR Winners – Outstanding Value Insurance Term Life 2013, CANSTAR Winner- Outstanding Value Insurance Trauma Cover, The Australian and New Zealand Institute of Insurance and Finance (ANZIIF) Winner Life Insurance Company of the Year 2013 and Smart Investor Blue Ribbon Awards Winner Best Term Life and TPD 2013

Life Insurance Quotes

Quotesonline Free Insurance Quotes

Please note Quotesonline Insurance News is an information service provided by third parties Insure 247 Australia doesn\’t warrants the accuracy of any information contained there in, readers should make their own enquiry\’s before relying on information in the stories Terms of Service

Please note that any advice given has been provided without taking into account your objectives, financial situation or needs. It is also based on information we have obtained from you. You must ensure the information is accurate and complete. Otherwise, this advice may be based on inaccurate or incomplete information. You should consider whether the advice is appropriate in light of your objectives, financial situation and needs. Please read the Product Disclosure Statement and contact us if you require any clarification.

 

Be the first to like.

Please note Quotesonline Insurance News is an information service provided by third parties Insure 247 Australia doesn't warrants the accuracy of any information contained there in, readers should make their own enquiry's before relying on information in the stories Terms of Service

Quotesonline by Evitz Nutitional Pty Ltd T/A Insure 247 Australia ACN 100 138 725 Insure 247 is an Authorised representative of Ausure Pty Ltd Australian Financial Service License Number 238433. If you a make purchase from Quotesonline Referral Partners Insure247 Pty Ltd will be paid a fee the amount of which will vary according to the type of policy