The year in review

The year in review | Insurance Business

The year in review
The biggest story of the year without a doubt was the dramatic departure of Lumley CEO John Lyon on Friday, 18 July when he decided to step down following the company’s acquisition by IAG.

The epic merger prompted plenty of lively debate in the industry and represented five of the top 20 stories read on Insurance Business throughout the year.

Among them were the news of industry veteran Paul Munton and highly respected Toni Ferrier deciding not to take up positions at IAG; Lumley’s Christchurch branch manager Brent King’s departure; the New Zealand Commerce Commission’s green light to IAG to acquire Lumley; IAG’s response to criticism over the way it merged the companies; and the significant numbers leaving Lumley both in New Zealand and Australia.

The other big news was just last month when Austbrokers announced it was acquiring New Zealand’s BrokerWeb.

The move was welcomed by many who felt it would shake up the current duopoly held by Aon and Crombie Lockwood and prompted some lively debate with 10 comments added.

Not surprisingly the other big reads were from the big awards of the year, including the IBANZ broker of the year and the New Zealand insurance industry awards nominees and winners.

The number six story was dodgy broker Grant Herbert being jailed.

And amongst all the mergers and acquisitions, there was the launch of underwriting agency Delta Insurance, which also proved popular with readers.

The stories which proved most fertile for the Insurance Business forum varied widely.

The one which attracted the most comments this year was No golf, no strippers, no men, about the new informal group aimed at women connected with the NZ insurance industry.

Sixteen comments were racked up, and a degree of hilarity too.

The other two big discussion topics were around fee disclosure and John Lyon’s departure.