IAG to write off $260m following Equity sale to Aquiline Partners
Insurance Australia Group has announced that it recorded a loss of $182m in respect of its "discontinued" UK operations in the six months to 31 December 2012.
It added a further UK related loss of $80m will be recognised in its second half results, representing the required "recycled of a foriegn currency transaltion reserve upon sale completion"
IAG
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@postonline.co.uk or view our subscription options here: http://subscriptions.postonline.co.uk/subscribe
You are currently unable to print this content. Please contact info@postonline.co.uk to find out more.
You are currently unable to copy this content. Please contact info@postonline.co.uk to find out more.
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@postonline.co.uk
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@postonline.co.uk
More on Commercial
Industry watches as election puts Martyn’s Law passage in doubt
Anticipated legislation targeted at boosting public premises’ resilience to terrorist attacks could now be delayed by the dissolution of parliament ahead of July’s general election.
Andy Haste appointed Canopius group chairman
Canopius has appointed former RSA boss and current Esure chairman Andy Haste as its group chairman, succeeding Michael Watson on 1 July.
Q&A: Marc Lewis, Ecclesiastical
Marc Lewis, underwriting director for the UK for Ecclesiastical, reveals how the insurer is embracing artificial intelligence plus its plans to grow the casualty business.
What is going on with electric vehicle insurance?
Post Podcast: What pushed up the price of electric vehicle insurance plus the steps providers are taking to ensure premiums are affordable is the topic of the latest Insurance Post Podcast.
Smaller businesses increasingly drawn to growing recall insurance market
Smaller businesses are increasingly buying product recall insurance in order to meet their contractual obligations, spurring growth in what has long been a niche corner of the industry.
Insurers face margin crush unless premiums are hiked
Data analysis: A sustainable margin recovery looks increasingly challenging for insurers with premiums needing to increase in real terms to prevent any erosion after a tripling of costs to 10.9% of premiums last year from 3.5% in 2022.
Zurich consolidates UK commercial and retail distribution teams
From 20 May, Zurich UK will consolidate its commercial and retail distribution teams into one unit for brokers accessing the business, Insurance Post can reveal.
Insurance industry has huge role to play in raising awareness of Martyn’s Law
Experts at the 2024 British Insurance Brokers’ Association Conference have flagged the huge role brokers and insurers have to play in raising awareness of the incoming legislation aimed at protecting premises from terrorist attacks.
Most read
- Singapore Airlines victim named as retired insurance manager Geoff Kitchen
- Aviva building out strategic broker proposition
- Insurance veteran running in snap election