NZ flooding erodes IAG aggregate deductible by 73%
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NZ flooding erodes IAG aggregate deductible by 73%

Rachel Dalton
13 February 2023
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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

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NewsClaims and lossesIAG
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Rachel Dalton
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