Wesfarmers expects a 74 per cent drop in first-half earnings from its insurance division because of a high number of natural disasters. Wesfarmers’ insurance division… Read More »Wesfarmers Announces a Drop in First-half Earnings From its Insurance Division
Wesfarmers, the Perth-based conglomerate which also operates in general insurance and financial services, has become Asia Pacific’s fourth largest retailer after a five-year growth spurt up to the end of 2009.
Wesfarmers Insurance division includes Lumley Insurance Australia, Lumley Insurance New Zealand and WFI, one of the largest rural insurers in Australia.
The company’s insurance broking businesses include OAMPS in Australia and the United Kingdom as well as New Zealand’s second largest insurance broker Crombie Lockwood. Wesfarmers Insurance division also has underwriting agencies, premium funding businesses, the OAMPS superannuation fund and OAMPS Financial Management.
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