Troubled insurer HIH, which owns Lloyd's syndicate HIH Cotesworth, is selling its 49% interest in its Australian retail insurance venture with Allianz for an estimated Aus$125m (£43.3m).
The move comes after HIH plunged an estimated Aus$500m (£173m) into the red.
This week QBE Insurance announced that it is to throw a lifeline to its struggling rival HIH by agreeing to form a joint corporate insurance venture.
An HIH spokesman said: “Australian corporate insurance is the core business on which HIH was founded.”
Australia's corporate watchdog, the Securities & Investment Commission, is investigating whether the company kept the market adequately informed of its trading positions. HIH shares have been suspended since March 1.
The 2025 Insurance Times Awards took place on the evening of Wednesday 3rd December in the iconic Great Room of London’s Grosvenor House.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
Many congratulations to all the worthy winners and as always, huge thanks to our sponsors for their support and our judges for their expertise.
