Our Business
Specific Areas of Business: |
Calliden Group Limited
Calliden Group is a publicly listed company on the Australian Stock Exchange code CIX. As a listed entity the group is subject to ASX continuous disclosure and listing rules. Calliden is also subject to ASIC’s rigorous governance framework. Our shares are publicly traded as we have strong support from institutional investors, with over 50% of shares currently held by leading Australian institutions.
As at 30 June 2008 Calliden’s major shareholders include:
| 1. Hunter Hall Investment Management Limited (and related entities) 2. Australian Unity Limited 3. HGL Limited (and related entities) 4. MMC Contrarion Limited 5. Souls Funds Management Limited (and related entities) |
17.39% 13.04% 6.77% 6.31% 6.23% |
On 31 July 2007 Calliden Group Limited (CGL) acquired Australian Unity’s general insurance businesses comprising Australian Unity General Insurance Ltd, Mansions of Australia Ltd and a 50% stake in Farmers Mutual Insurance Ltd for a purchase price of $62.5m. Funding for the new transaction comprised a share placement of 30.1m Calliden Group Limited shares to Australian Unity, new bank debt of $25.0m and internal funding of $23.6m.
As at the end of June 2008, the group has $100.5m in paid up capital and a market capitalisation of $90m.
Calliden Group currently holds a number of authorisations by the Australian Prudential Regulation Authority (APRA) to conduct general insurance, with each licensed entity separately capitalised and subject to independent actuarial valuation, risk based regulatory capital requirements. The majority of Calliden Group’s capital has been employed to support its insurance subsidiary Calliden Insurance Limited.
Following the successful transfer of the insurance liabilities of Calliden Limited to Calliden Insurance Limited pursuant to a Federal Court Scheme transfer, Calliden Group now has one general insurance authority, Calliden Insurance Limited.
For details of the Group's investment management strategy, please visit our Investment Management page.
2. Insurer (Manufacturer)
Calliden Insurance Limited
Calliden Insurance Limited is a wholly owned subsidiary of the Calliden Group. It is an APRA regulated insurer. Calliden Insurance Limited has paid up capital of $50 million and exceeds APRA's minimum capital requirements.
Reinsurance
Calliden has one combined reinsurance programme supporting all general insurance written by the group. The reinsurance program is supported by some of the world's largest reinsurers, all of whom have Standard & Poor's rating of "A" or better.
Calliden is a member of the Insurance Council of Australia, supports the new Industry Code of Practice and is also a member of the Insurance Ombudsman Service.
Calliden Insurance Limited is a manufacturer of general insurance products which involves underwriting, pricing, portfolio and claims management.
Our product manufacturing capabilities, supported by central services and back office operational infrastructure provides the platform on which the organisation has grown and evolved.
3. Distribution
The Group distributes its products via specialist distribution channels and through a regional network designed to service the needs of general insurance intermediaries, alliance partners and financial institutions.
Regional Distribution
Calliden provides intermediaries with a range of quality, affordable products designed for personal insurance customers and small businesses. This is backed by local service and a commitment to transact business as efficiently and cost effectively as possible.
Specialist Distribution
In order to support and capitalise on the Group's manufacturing capabilities we have invested in the creation, acquisition and ongoing development of a number of specialist distribution channels. This support extends to agencies, 100% owned, part owned and ones in which we provide capital support only.
| Market | Agency | |
| Entertainment and Security industry | Arena Underwriting |  |
Regional insurance including commercial, farm and home |
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| Construction trade contractors |
Blue Dog Insurance |  |
| Hard to place liability, Franchisors Liability, stand alone Management Liability and Property/ Business Packs for SME's |
Brooklyn Underwriting |  |
Clubs Sporting clubs, groups and sports-related businesses |
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Motor Prestige, non-standard motor
Modified, High Performance, imported cars and non-standard drivers |
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| Business Interruption Insurance | IUA |  |
| Prestige houses |
Mansions of Australia |  |
| Tailored insurance solutions for the Australian broker market | QUS |  |
4. Claims Management
Calliden Group has invested in Claims Services Australia and subsequently Insurance Claims Solutions to provide additional claims management expertise and infrastructure to service its expanding customer base whilst ensuring it adopts a market leading approach to claims management.
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Click here to see Calliden's journey so far.