Insurance Australia Group Ltd (IAG) is set to become Australia's biggest insurer by market share after it agreed to buy the insurance underwriting businesses of Wesfarmers Ltd for $1.66 billion.
QBE Insurance Group Ltd said it expects to post a $250 million net loss this year due to writedowns and unexpectedly large claims after weak crop prices hit its U.S. operations, sending shares in Australia's biggest insurer down 20 percent.
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{
"author": {
"name": "Maggie Lu Yueyang Reuters",
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"articles": [
{
"uri": "/2013/12/16/iag-set-to-become-australias-no-1-insurer-after-we/",
"title": "IAG Set to Become Australia's No. 1 Insurer After Wesfarmers Deal",
"byline": " Maggie Lu Yueyang, Reuters ",
"kicker": "News",
"prettyDate": "December 16, 2013",
"timeToRead": "3 minute",
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"summary": "Insurance Australia Group Ltd (IAG) is set to become Australia's biggest insurer by market share after it agreed to buy the insurance underwriting businesses of Wesfarmers Ltd for $1.66 billion.",
"body": null
},
{
"uri": "/2013/12/09/australias-qbe-warns-of-annual-loss-on-north-ameri/",
"title": "Australia's QBE Warns of Annual Loss on North American Claims, Writedowns",
"byline": " Maggie Lu Yueyang, Reuters ",
"kicker": "News",
"prettyDate": "December 09, 2013",
"timeToRead": "3 minute",
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"summary": "QBE Insurance Group Ltd said it expects to post a $250 million net loss this year due to writedowns and unexpectedly large claims after weak crop prices hit its U.S. operations, sending shares in Australia's biggest insurer down 20 percent.",
"body": null
}
]
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}