IAG
-
The carrier seeks to address potential BI liabilities following a court ruling.
-
A fresh BI ruling in Australia this week highlighted the industry's reason for caution over Covid exposure as legal actions continue.
-
The carrier plans to raise A$750mn in new equity capital to help shore up its balance sheet, and has further eroded its aggregate reinsurance.
-
The Australian carrier is also drawing down on other aggregate covers. -
The Australian carrier lifts its guidance on natural catastrophe claims to A$904mn ($644mn) from $850mn.
-
The ICA has increased its estimate for the January hailstorm total losses to A$1.2bn.
-
The insurer recouped about A$280mn from the aggregate cover in 2019 and expects to draw down an A$101mn stop loss for its fiscal year.
-
The carrier issued a profit warning as it revised up projected annual cat losses and forecast lower reserve releases.
-
Claims from the catastrophe have increased to 13,750 up from 10,550 at the end of last week, the ICA told local media
-
The bushfires have drawn attention to extended hours clauses that allow insurers to group together claims as a single event.
-
The Australian insurance organisation put cumulative insured losses at A$431mn ($299.1mn) for the bushfire season.
-
The Australian carrier boosted its overall reinsurance cover but cut back aggregate protection.
Most Recent
-
GIE Gareat’s terrorism bond prices near top end of guidance at 5.25%
22 November 2024 -
American Coastal targets $100mn of Florida named storm coverage
22 November 2024 -
Allstate pegs October cat losses at $226mn post-tax
21 November 2024 -
Plenum’s Dynamic Cat Bond Fund reaches $200mn in AuM
20 November 2024