ASX Announcements
Notification of cessation of securities - IAG
Appendix 3H (Notification of cessation of securities)
- May 16, 2024
- 4 pages
This Month
Stock rally ‘too good to be true’, warn CIOs
Investment chiefs say the market looks too expensive given the uncertain economic backdrop and that there’s good reason to be cautious for the rest of this year.
- Joanne Tran
RACQ back on block, again, as Bank of America fires up sale
BoA’s crack financial institutions team Mike Evans and Pete Nicholls are understood to be leading the effort.
- Sarah Thompson, Kanika Sood and Emma Rapaport
April
ASIC secretly probed IAG’s Greensill disclosure
As IAG raised $750m, a hedge fund’s tip-off claimed there was scant detail about exposure to fast financier Greensill Group. Since then, $7b in gross claims have been declared.
- Liam Walsh and Jenny Wiggins
Male mentors drove Mostyn’s career, but she influenced them too
The next governor-general is best known as an advocate for professional women. She also had influential male mentors.
- Aaron Patrick
March
‘Chose not to disclose’: Greensill Group insurers dispute claims
Lex Greensill emailed an insurance underwriter in 2017 suggesting he “step up”. Years later, that relationship is under the microscope.
- Liam Walsh and Jenny Wiggins
Frantic emails show underwriters’ shock at Greensill Group exposure
The documents, filed in the Federal Court, also reveal Australian regulators were warned nine months before the fast-finance business imploded.
- Liam Walsh and Jenny Wiggins
Greensill Group underwriter suffered ‘breakdowns’ in policy safeguards
The man who signed off on billions of dollars of policies allegedly went around proper process and would receive “dinners, wine bottles” without disclosure.
- Jenny Wiggins and Liam Walsh
PSC Insurance rides sector growth as Goldman fields inbound interest
PSC boss Tony Robinson and his Paul Dwyer-chaired board are seeking a price tag of about $2.3 billion as at least two offshore brokers circle.
- Sarah Thompson, Kanika Sood and Emma Rapaport
‘Radio silence, on hold for hours’: How insurers treat their watchdog
Justin Untersteiner helps run the Australian Financial Complaints Authority. But that didn’t stop him getting “radio silence for months” and being kept “generally on hold for 2½ hours” when he tried to claim.
- Liam Walsh
February
Affordability crisis gnaws at insurer customer growth
After a three-year repricing cycle where premiums only went up, IAG and QBE appear to be nearing the limit of how far they can keep hiking prices for insurance.
- Liam Walsh
- Opinion
- Chanticleer
The surprising reason your car insurance isn’t cheaper
Anti-collision technology is supposed to reduce road accidents. Instead, it’s helping to push car insurance premiums through the roof.
- James Thomson
- Opinion
- Chanticleer
What we learnt from GQG, QBE and Cleanaway’s results
GQG rides the tech and Ozempic waves, insurer QBE shows big premiums may be coming to an end and Cleanaway plays the productivity game.
- James Thomson and Anthony Macdonald
How Microsoft, Lendlease and Virgin changed their culture
Here are key takeaways from The Australian Financial Review Workforce Summit.
- Patrick Durkin and Sally Patten
IAG CEO on speed dial to ASIC about top lawyer’s sacking
Internal documents show the dismissal of IAG’s general counsel was so fast some insurance people were still coming to grips with the fallout after it happened.
- Liam Walsh
More staff expected back in office: Lendlease, Seek, SBS chairmen
Senior directors are predicting an increase in office attendance the coming months as benefits of spending time in the workplace increase for workers.
- Sally Patten and Patrick Durkin
- Exclusive
- BOSS
‘Cuts to follow hiring freeze’: directors warn on job market shake-out
Leading company directors are predicting a shake-out in the job market this year as wages and price pressures bite and business looks to make cost savings.
- Patrick Durkin and Sally Patten
Insurers on top in spats with customers about flood experts
A federal parliament inquiry is examining how insurers handled claims in the 2022 flooding. There were mea culpas from CEOs on Monday for errors.
- Liam Walsh
- Investigation
- Insolvency
The $7b hangover: How IAG was sucked into Lex Greensill’s vortex
One of Australia’s most expensive corporate fights is in court. But how did the insurer targeted in the cases become entangled?
- Liam Walsh and Jenny Wiggins
January
APRA blasts Budget Direct owner about ‘weak’ risk oversight
Auto & General Insurance, the insurer behind Budget Direct, will undertake a probe to find out what went wrong.
- Liam Walsh
- Updated
- Inflation
Suncorp surprised by older car claims, freak house fires
The insurer is the latest to see older claims come back to haunt it, while 500 claims have been lodged for damage from Cyclone Kirrily.
- Updated
- Liam Walsh