Insurance

Govt names managers for Medibank IPO

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Government names three investment banks to manage the multibillion dollar float, after hearing pitches from 11 banks.

Credit Suisse, Goldman well placed for Medibank prize

The two investment banks hope a past mandate and their status as leading IPO underwriters in Australia will help them win a Medibank joint lead manager role.

IAG reaffirms FY guidance

Insurer sees gross written premium growth of between 3-5% in full year.

QBE considers sale of US assets

Shares slide as insurer confirms a strategic review of US operations is underway after reports it will offload Winterthur.

QBE to offload Winterthur: report

Insurer interviewing advisers ahead of sale of mid-market United States business.

Merger and IPO markets compete for deals

Bankers say the IPO market, sometimes the preferred exit route for many private firms, is facing challenges from the M&A market.

NAB talks to global firms about life insurance unit: report

National Australia Bank has been talking to global financial services companies about potential partnerships.

Gresham, Macquarie advise Wesfarmers on $1.01bn sale

Wesfarmers turned to a familiar adviser, Gresham, as it sought to sell its insurance broking and premium funding business.

Wesfarmers to sell insurance broking arm

Shares lift as Arthur J Gallagher to buy broking, premium funding operations for $1bn, pending FIRB approval.

Citi, Macquarie, UBS seek Medibank mandate

The three investment banks have submitted applications for the role of joint lead manager in the Medibank IPO, and a host of others are likely to join them in the chase.

QBE vows to fight class actions

John Neal pledges to vigorously defend company against class actions.

QBE confirms FY guidance

Insurer reaffirms premium guidance and targeted profit margin, following news of a possible shareholder class action.

QBE faces possible class action

Maurice Blackburn asks shareholders to register interest after December share price fall on profit downgrade.

Why a Medibank IPO makes sense

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The government’s decision to pursue an initial public offering of Medibank Private will allow the insurer to compete more aggressively with a vast array of rival funds.

Government to sell Medibank in IPO

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The coalition government has decided to proceed with the sale of Medibank Private via a public float in the next financial year, with the precise timing and structure yet to be determined.

ACCC clears IAG's Wesfarmers buy

Watchdog will not oppose IAG's proposed acquisition of Wesfarmers' insurance underwriting business.

QBE appoints new chief risk officer

Jason Brown to succeed George Thwaites as insurer's global CRO.

Genworth IPO expected: report

Mortgage insurer tipped to hand in prospectus to ASIC this month.

Government reviewing asset sale studies

The Commonwealth and Queensland governments are analysing a series of scoping studies on possible asset sales.

IAG sells $350m of notes to fund acquisition

ANZ, JPMorgan managed bond sale that was increased in size and oversubscribed.

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