IAG pegs net flooding loss at A$135mn
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IAG pegs net flooding loss at A$135mn

Rachel Dalton
26 March 2021
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Flood waters, Northern New South Wales, Australia

Insurance Australia Group (IAG) has estimated the cost of this month’s severe flooding in Queensland and New South Wales (NSW) so far at A$135mn ($103mn), net of its quota-share reinsurance arrangements.

The carrier cedes 32.5% of its consolidated business to reinsurers. Of this, 20% is ceded to Berkshire Hathaway in a 10-year deal that began in 2015.

The

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Rachel Dalton
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