NZ flooding erodes IAG aggregate deductible by 73%
  • X
  • LinkedIn
  • Show more sharing options
  • Print
  • X
  • LinkedIn
  • Free Trial
  • Log in

NZ flooding erodes IAG aggregate deductible by 73%

Rachel Dalton
13 February 2023
  • X
  • LinkedIn
  • Show more sharing options
  • Print
  • X
  • LinkedIn
iag_insurance_australia_group_sydney_logo_2022.png

Heavy rain and flooding across Australia and New Zealand have eroded the A$500mn ($346mn) deductible on IAG’s full-year 2023 aggregate programme by 73%, the company has reported.

In its fiscal H1 report, the carrier said it had racked up A$524mn in natural perils claims costs over H1, down 23% year-on-year but A$70mn above its natural hazards allowance for the period.

IAG

Subscribers, log in here:

Fuel a smarter strategy with our actionable market intelligence

      • Gain a competitive edge and accelerate decision-making
      • Be empowered by insights that transform confusion to clarity
      • Uncover growth opportunities and prepare for potential threats
      • Fuel a smarter strategy for business growth
Request a free trial Already a subscriber? Log in now

Topics

News Claims and losses IAG Stocks
rachel dalton/rachel dalton ii ils.png
Rachel Dalton
Lead Reporter
Contact
Gift this article