SUNCORP Metway will slice dividends to preserve cash for its troubled banking arm, but its chief executive, Patrick Snowball, has pledged to rebuild the financial services group from the ground up over the next few years as he seeks to improve returns and win over investors.
FOR chicken farmer Michael Shaw it was a farm insurance bill big enough to raise his eyebrows, blood pressure and ire. His annual bill including tax and levies, which he paid just a few days ago, had jumped by 10.2 per cent to nearly $9450.
QBE Insurance will raise up to $2 billion to fund an overseas buying spree, with the underwriting giant snapping up five mid-size insurance specialists, mostly aimed at widening its US presence.