Australia
Australia’s new reinsurance capital requirements to boost general insurers
Whilst lower reinstatement requirements could reduce reinsurance costs, mandating all-perils coverage may increase them.
1 day ago
Australia’s new reinsurance capital requirements to boost general insurers
Whilst lower reinstatement requirements could reduce reinsurance costs, mandating all-perils coverage may increase them.
1 day ago
Suncorp Group's outlook challenged from higher risks, costs challenges
Despite this, SGL's prescribed capital amount coverage remains robust.
1 day ago
Mitsui, Argyle boost SME insurance in Australia
Argyle will provide a business insurance package with a combined limit of up to $7m.
3 days ago
Actuaries Institute stresses need for SME cyber defenses
Large corporations reinforced cybersecurity, whilst many SMEs remain behind.
3 days ago
Actuaries Institute seeks fairer insurance
The paper found that existing customers are charged more than new clients.
Aussie insurers to slash costs by 30% with tech revama
Insurers’ operating costs have surged—20% for incumbents.
Climate change renders Australian home insurance unaffordable
Surge in claims led to an average home insurance premium increase of at least 14%.
ASIC files case against QBE Insurance for alleged ‘misleading’ discounts
Loyal customers were promised discounts but reportedly did not receive them.
AXA XL makes three hires in Perth
The group named Chris McElroy, Amanda Rattue, and Trent Jeuring as senior underwriters.
Mitsui Sumitomo Insurance, Coalition expand cyber insurance in Australia
Coalition has brought its Active Insurance model to over 1,400 policyholders.
Allianz Australia's capital adequacy to remain strong
Thanks to removal of certain non-life liability adjustments, deferred acquisition cost deductions.
Australian insurers urged to adopt nature-positive practices
In December 2022, over 180 countries adopted the Global Biodiversity Framework.
Ardonagh merges PSC’s ANZ operations with Envest
This makes it one of the top privately owned insurance distribution companies in Australia.
Insurance cover rises, yet a quarter of Australians still unprepared
More than one-third of respondents had a storm action plan in place.
IAG slashes jobs after reporting high profits
IAG said the job cuts are part of a restructuring plan that began in March.
Car insurance premiums rise 16% in Australia
The average car insurance premium across the country is now $1,717.
Australia's general insurance premiums rise 5.7% in H1 2024
The number of intermediaries inched down 1.4%.
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Humans need to be in insurance’s genAI loop
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Insurance
Employees still need to interpret AI-generated data and make decisions to minimise risks.
Employees still need to interpret AI-generated data and make decisions to minimise risks.
