NRMA chief can now tell its secret

Article Abstract:

NRMA chief Eric Dodd revealed that the company's mutual structure made its insurance company, NRMA Insurance Ltd., an easy acquisitions target, and there are plans to float it. The other organization is a motorist's mutual. NRMA Insurance could have a market capitalization of $5 billion. In early 1997, NRMA Insurance had only a 10% stake in the Queensland market, but through acquisitions and mergers, it is now the largest insurance company in all states except Queensland. The overall NRMA group earned $231 million in the December 1998 half-year.

Australia, Statistical Data Included, Dodd, Eric, NRMA

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AMP 'cashbox' ready to open

Article Abstract:

AMP, Australia's largest asset manager and life insurer, is planning to distribute its shares to its policyholders instead of selling them. Stock owners can make tender offers to institutions before listing of AMP's shares takes place. AMP considers share buyback, capital repayment and corporate expansion as sources of surplus capital.

Cover Story, Securities, AMP

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NRMA heads back for the bourse, fingers crossed

Article Abstract:

Australia's NRMA Insurance Group Ltd. is to be floated and may become a leading stock. The company has been valued at A$4.5 billion, ranking it among Australia's top 30 companies.

Planning, Going public (Securities), Initial public offerings

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