Insight and Intelligence on the London & International Insurance Markets 19 Feb 2018

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IAG cedes A$120mn in H1 cat losses to reinsurers

  • Catrin Shi 14 February 2018
  • Australian carrier IAG booked A$262mn ($205mn) in net natural catastrophe losses for the six months to 31 December, after its cat reinsurance programme capped losses from three of the events at A$20mn each.

    The carrier's fiscal 2018 first half benefited from about A$120mn of reinsurance protection under the 2017 calendar year aggregate cover, the firm said.

    The cover meant losses from the October Queensland thunderstorms, the November New South Wales storms and the Melbourne hailstorm in December were capped at...

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