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Home > Company Index > Insurance > Multiline Insurance > HIH Insurance Limited
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HIH Insurance Limited |
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PROFILE |
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HIH Insurance is calling it quits. The company had hoped to expand when it bought FAI Insurances; instead the acquisition caused the insurer to implode. Once a provider of personal, business, and travel insurance, HIH spun off these lines of business to help cover its continuing expenses. The company marketed insurance under its own name, as well as the FAI and CIC brands. Allianz Australia had bought HIH's general retail insurance. The move was to position HIH for a timely exit from the retail insurance market. Unfortunately, overambitious expansion and underwhelming management saw the company declare its voluntary liquidation in 2001. HIH did business throughout the Pacific Rim, the US, the UK, and Argentina.
COMPETITION |
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AXA (AXA)
ING Groep N.V. (ING)
QBE Insurance Group Limited (QBE)
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FINANCIAL OVERVIEW |
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Fiscal Year-End: June
2000 Sales (mil.): 1,712.00
1-Yr. Sales Growth: (22.6)%
KEY PEOPLE |
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Randolph Wein
CEO
Dominic Fodera
CFO
CONTACT INFO |
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Level 42, 50 Bridge St.
Sydney 2000, Australia
Phone: 61-2-9650-2000
Fax: 61-2-9650-2030
Online: Web Site
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Hoover's Company Capsule
Copyright © 2001, Hoover's Inc. Austin, Texas.
For changes and updates, contact Hoover's directly.
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