IAG

QBE bucks Australian stock trend as shares rise 5% to five-year high

Shares in ASX-listed QBE rose by 4.3 percent in the latest trading session, bucking the trend set by fellow Australian carriers IAG and Suncorp, which each saw their shares dip to a respective 52-week low last week.

A brave new world for Australia’s insurers?

IAG’s recent uplift of its perils assumptions suggests not so much a revision as a recalibration in response to weather-related claims in Australia.

IAG shares hit 52-week low on profit drop and margin cut

Shares in Insurance Australia Group (IAG) reached a 52-week low in trading on Wednesday after the carrier posted a drop of more than 43 percent in first-half profit and cut its full-year insurance margin for the second time in three weeks.

IAG taps 2019 agg for A$280mn and signals 2020 cat cover claims

Australian insurer IAG further lowered guidance for its full-year profit margin and increased its projection for net natural peril claim costs as it disclosed updated details of cat losses and its use of reinsurance.

January hailstorm losses surge to $428mn: ICA

Severe hailstorms that lashed Australia’s East Coast last month have rung up an insured loss bill of A$638mn ($428mn), according to the latest estimate from the Insurance Council of Australia (ICA).

Single event definition to determine Australian reinsurance payout: AM Best

The reinsurance coverages triggered by the Australian bushfires remains uncertain, with terms and conditions likely to come under great scrutiny, AM Best has commented.

Record-breaking Australian bushfire losses soar to A$1.65bn: ICA

Insured losses in the wake of widespread bushfire damage in Australia have reached A$1.65bn ($1.13bn), according to the Insurance Council of Australia (ICA) – making the catastrophe the most expensive bushfire event on record.

Higher claims dent IAG 2020 margin

Australian insurer IAG has revised its full year 2020 guidance ahead of the publication of its first half results on 12 February, as it flagged increased claims costs following the country’s recent hailstorm event.

Australian bushfire losses reach A$1.34bn as IAG and Suncorp pull cover

The Insurance Council of Australia has updated loss estimates for the catastrophic bushfires that are continuing to impact the country, pegging losses at A$1.34bn ($924mn), while two of the country’s largest insurers have temporarily halted sales of policies and the processing of claims in impacted regions.

XoLs safe for now as Australian bushfires imperil QS and agg covers

IAG ups 2020 reinsurance programme by A$1bn as bushfires exhaust loss budget

Australian carrier IAG has finalised its catastrophe reinsurance program for 2020, scaling up its gross reinsurance protection to A$10bn ($7bn), an increase of A$1bn on last years’ programme as recent bushfires push the carrier’s loss bill into the red.

Natural catastrophes cost IAG $627mn in FY19

Natural catastrophe claims cost Sydney-headquartered Insurance Australia Group (IAG) some $627mn in FY19, the carrier disclosed today as part of its annual results.

IAG considers disposal of stake in India’s SBI General

Sydney-headquartered Insurance Australia Group (IAG) has held talks with external parties on the potential sale of all or part of its 26 percent stake in India’s SBI General Insurance Company (SBIG).

IAG increases reinsurance spend by almost half in 2018

Australia’s second-largest insurer IAG said it is experiencing “modest upwards pressure on reinsurance rates” as the firm published its FY results to June 2018.

IAG sells three Southeast Asia businesses

Australian carrier IAG has agreed to sell its majority stake in its Thai, Indonesian and Vietnamese operations in a series of transactions which should net the company around $200mn.

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