| IAG CEO Predicts Ongoing Insurance Premium Rises Amid Easing Inflation Thu, 23 Oct: Australian consumers should brace for continued increases in insurance premiums, albeit at a moderated pace, according to Nick Hawkins, CEO of Insurance Australia Group (IAG). The company recently reported a significant 91% rise in net profit for the first half of the fiscal year ending December 31, 2024, reaching $778 million. This surge is largely attributed to favourable weather conditions and a reduction in claims. - read more
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| Allianz Australia Completes $642 Million Acquisition of RAA Insurance Thu, 23 Oct: In a significant move within the Australian insurance sector, Allianz Australia has successfully acquired RAA Insurance for $642 million. This acquisition, approved by the competition regulator on June 12, 2025, marks a strategic expansion for Allianz into the South Australian market. - read more
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| Rising Insurance Risks Challenge Australian Businesses in Evolving Landscape Thu, 23 Oct: Australian businesses are currently navigating a complex and evolving risk landscape, marked by increased exposures across various domains. A recent report from Gallagher highlights several key areas contributing to this heightened risk environment. - read more
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| ASIC Initiates Legal Action Against RACQ Insurance Over Misleading Premium Practices Thu, 23 Oct: The Australian Securities and Investments Commission (ASIC) has commenced Federal Court proceedings against RACQ Insurance, a subsidiary of Insurance Australia Group (IAG), alleging that the insurer misled over 570,000 customers through deceptive premium comparison pricing in renewal notices issued between September 2019 and December 2024. - read more
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| Australian Insurance Industry Reports Record $6.1 Billion Profit Amid Rising Premiums Thu, 23 Oct: Australia's insurance industry has reported an after-tax profit of $6.1 billion for the year 2024, a figure that is three times higher than the five-year average of $2 billion. This substantial increase is attributed to significant premium hikes and a relatively benign year for natural disasters. - read more
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| Northern Territory Homeowners Experience Rising Insurance Premiums Despite Cyclone Reinsurance Pool Thu, 23 Oct: Homeowners in the Northern Territory are facing significant increases in insurance premiums, despite the federal government's cyclone reinsurance pool established in 2022 to lower costs in cyclone-prone areas. - read more
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| USD Smile Resurfaces: What It Means for the Australian Dollar Wed, 22 Oct: The resurgence of the 'USD smile' is influencing global currency markets, including the Australian dollar (AUD). This concept connects the USD's performance to market risk sentiment and the relative rate advantage. Despite the recent volatility in US banks, the USD has retained its position due to its safe-haven appeal and shifting expectations around the Federal Reserve's monetary policy. - read more
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| Navigating the Complexity of Australian Superannuation Wed, 22 Oct: The Australian superannuation landscape is undergoing significant scrutiny, with evolving regulations and market uncertainties impacting retirement confidence. Market volatility and legislative changes, such as the proposed Division 296 tax on super balances over $3 million, have heightened anxieties. There is also an ongoing debate about the superannuation industry's heavy focus on accumulating wealth without adequately addressing how retirees should draw down their savings. - read more
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| Australia's Economic Shift: Rising Unemployment and Potential Rate Cuts Wed, 22 Oct: The recent increase in Australia's unemployment rate has highlighted a major labor market shift, with significant implications for economic policy. Data from the Australian Bureau of Statistics (ABS) shows a rise in the unemployment rate to 4.5% as of September, the highest since late 2021, signalling a critical reliance on the non-market sector for job creation. Notably, non-market jobs, largely within government-funded sectors like healthcare and education, now make up an unprecedented 31.5% of the workforce. - read more
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| Australia to Explore European Flood Insurance Schemes Amid Rising Coverage Challenges Wed, 22 Oct: Australia is set to explore international flood insurance schemes as challenges in securing coverage in high-risk areas grow. Financial Services Minister Daniel Mulino revealed that Australia will assess models like Flood Re in the UK and several European approaches in countries such as Italy, France, Germany, and Switzerland. This move comes amidst increasing difficulties for high-risk properties to obtain insurance coverage. - read more
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| Unemployment Climbs to 4.5% in September 2025 Tue, 21 Oct: In September 2025, Australia's unemployment rate rose to 4.5%, marking the highest level since November 2021. This increase has sparked discussions about potential interest rate cuts by the Reserve Bank of Australia (RBA). - read more
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| RBA Reports Easing Financial Conditions After Rate Reductions Tue, 21 Oct: The Reserve Bank of Australia (RBA) has observed initial signs of loosening financial conditions following three interest rate cuts in 2025, which have brought the cash rate down to 3.6%. Assistant Governor Christopher Kent highlighted that credit availability for both households and businesses has improved as a result. - read more
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| CBA Confirms CEO Matt Comyn's Leadership Through 2028 Tue, 21 Oct: The Commonwealth Bank of Australia (CBA) has announced that CEO Matt Comyn will continue to lead the nation's largest lender until at least 2028. This extension ensures leadership stability as the bank navigates ongoing economic shifts. - read more
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| Life Insurance Sector to Develop New Mental Health Claims Framework Tue, 21 Oct: A significant update is on the horizon for mental health claims within the Australian life insurance sector. The Council of Australian Life Insurers (CALI) has announced the creation of a new assessment framework. This move will be developed in collaboration with consumer advocates, medical specialists, and other key stakeholders. The forthcoming plan aims to establish minimum standards for evaluating claims, ensuring that they are based on consistent and evidence-based criteria. - read more
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| RBA Maintains Cash Rate at 3.6% Amid Economic Uncertainty Tue, 21 Oct: The Reserve Bank of Australia (RBA) has decided to keep the official cash rate steady at 3.6% during its September 2025 meeting. This decision follows three consecutive 25 basis point cuts earlier in the year, bringing the rate down from a peak of 4.35% in February. The RBA's cautious approach reflects ongoing concerns about inflation and economic uncertainties. - read more
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| Australia Triumphs in 2025 Speedway of Nations Grand Final Tue, 21 Oct: Australia has secured its second Speedway of Nations title, defeating host nation Poland in the Grand Final held at MotoArena Toruń in Toruń, Poland. The Australian team, comprising riders Brady Kurtz and Jack Holder, delivered an outstanding performance to clinch the championship. - read more
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| Australia Secures Consecutive Motocross des Nations Titles in 2025 Tue, 21 Oct: Australia has successfully defended its Motocross des Nations title, achieving back-to-back victories in the prestigious event held at Ironman Raceway near Crawfordsville, Indiana, USA. This marks the second consecutive win for the Australian team, solidifying their position as a dominant force in international motocross. - read more
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| Rate Money Announces Rate Reductions for Self-Employed Borrowers Tue, 21 Oct: In a move to support self-employed Australians, non-bank lender Rate Money has announced significant reductions in interest rates across its 'Evolve Easy Doc' loan range. Effective from June 30, 2025, the new rates start from 6.64% per annum, aiming to provide more accessible financing options for small business owners and self-employed individuals. - read more
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| Renown Lending Partners with Marlbury Capital to Expand SME Asset-Backed Loans Tue, 21 Oct: Renown Lending has announced a significant partnership with Marlbury Capital, securing a $100 million facility to expand asset-backed loans for Australian small and medium-sized enterprises (SMEs). This initiative is designed to offer fast, simple, and flexible financing solutions, enabling business owners to seize opportunities, manage cash flow, and stabilize operations. - read more
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| ASIC Highlights Compliance Issues Among Small Credit Lenders Tue, 21 Oct: The Australian Securities and Investments Commission (ASIC) has recently expressed concerns regarding the compliance practices of certain small credit lenders. A comprehensive review conducted by ASIC revealed that some providers of small amount credit contracts (SACCs) may be steering vulnerable consumers towards financial products that offer fewer protections, potentially exposing them to increased financial risk. - read more
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| WFI and AgCarE Join Forces to Reward Sustainable Farming Practices Tue, 21 Oct: In a significant move towards promoting sustainable agriculture, WFI Insurance has partnered with AgCarE, a certification program developed by AgForce, to offer premium reductions to farmers who achieve AgCarE certification. This collaboration aims to enhance financial, environmental, and social outcomes for Australian farmers and rural communities. - read more
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| Rising Insurance Costs Challenge Australian Farmers as Extreme Weather Intensifies Tue, 21 Oct: Australian farmers are confronting a significant surge in insurance premiums, a trend largely attributed to the increasing frequency and severity of extreme weather events. Over the past few years, many farmers have reported that their insurance bills have more than doubled, with annual premiums exceeding $100,000. - read more
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| Diversifying Small Farms Open New Avenues for Insurance Brokers Tue, 21 Oct: The landscape of Australian agriculture is evolving as small commercial farms increasingly diversify their operations to enhance income and sustainability. This shift presents both challenges and opportunities for insurance brokers, as new ventures introduce complex risk management needs. - read more
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| Westpac Implements $177 Million Restructuring Charge in Second Half of Fiscal 2025 Tue, 21 Oct: Westpac Banking Corporation has reported a restructuring charge of A$273 million (approximately $177.72 million USD) for the second half of fiscal year 2025. This move is part of the bank's ongoing 'Fit for Growth' program, which focuses on strategic cost management and performance improvement. - read more
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| Australia's Unemployment Rate Climbs to 4.5% in September 2025 Tue, 21 Oct: In September 2025, Australia's unemployment rate increased to 4.5%, marking the highest level since November 2021. This rise surpassed economists' expectations of 4.3% and has reignited discussions about potential interest rate cuts by the Reserve Bank of Australia (RBA). Find out now if you qualify and compare rates, offers and options from multiple lenders - without a credit check! Find out now if you qualify and compare rates, offers and options from multiple lenders - without a credit check! - read more
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