Mondial Assistance and nib have yesterday announced a brand new partnership in order to offer tailored travel insurance products to nib customers which would include feature emergency medical assistance. Mondial Assistance is part of the world’s largest assistance organisation and specialises in global emergency medical assistance and already underwrites a large chunk of Australia’s travel policies including Allianz, t, Medibank Private and Aussie TravelCover. Brett Robinson, Mondial Assistance in Australia CEO said: “Mondial Assistance has...  Lire la suite

Arch Underwriting at Lloyd’s announces that it has launched Arch Underwriting at Lloyd’s (Australia) Pty Ltd. Arch Underwriting at Lloyd’s is part of the Arch Insurance Europe underwriting platform. Arch Underwriting at Lloyd’s (Australia) is managed by Adam Matteson, Regional Director Australasia, with an initial focus on Commercial Property business. Adam most recently held national responsibility for Munich Re’s Property product in Australia. Commenting on the opening of this new office, Arch Insurance...  Lire la suite

Insurance Australia Group (IAG) today announced completion of its INR 5421 million (approximately A$126 million) investment in its general insurance joint venture with State Bank of India, SBI General. The investment will be funded from internal resources. The capital has been invested directly into the joint venture vehicle and no further capital is expected to be required until at least the fourth year of operation. The joint venture is expected to commence trading in the first half of calendar year 2010, subject to final approvals from Insurance...  Lire la suite

French insurer AXA said on Thursday that there was no change for now to its offer made with partner AMP for AXA Asia Pacific Holdings, despite speculation the bid may be raised. “At this stage, AXA and AMP have not withdrawn or otherwise modified their joint proposal which remains open and valid in all respects,” AXA said in a statement. Earlier this month, AXA Asia Pacific rejected a cash and share offer from its parent company AXA SA and AMP worth roughly A$12 billion ($11.20 billion). Under the bid, AMP agreed to sell AXA Asia Pacific’s...  Lire la suite

Australian insurer AMP on Sunday said it planned to partner the world’s biggest listed life insurer China Life in pensions and fund management, as it grows its business in Asia. AMP Limited said it had signed a memorandum of understanding for strategic cooperation with China Life Insurance (Group) Company which outlined asset management and pensions as areas for partnership. The deal offers “significant potential” for AMP to extend its reach in the world’s fastest growing major economy at a time when China’s private...  Lire la suite