IAG close to attaching A$100mn stop loss from Australia floods
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IAG close to attaching A$100mn stop loss from Australia floods

Alex Frampton
16 June 2021
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iag_insurance_australia_group_sydney_logo_2022.png

IAG said it is near to reaching its A$100mn ($77mn) stop loss reinsurance cover on property damage claims after severe flooding and storms in the Australian state of Victoria last week.

The insurer estimated net natural perils claim costs would be approximately A$720mn to A$743mn for the 2021 fiscal year, coming in almost 10% or more higher than its perils allowance of A$658mn for the period.

The

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