IAG insurance australia group limited
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News: IAG Insurance Australia Group Announces FY23 Aggregate Reinsurance Cover And Quota

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    06/07/22
    11:20
    Post #: 62396389

    July 6 (Reuters) - Insurance Australia Group Ltd (IAG) :

    • COMBINATION OF ALL CATASTROPHE COVERS IN FORCE AT 1 JULY RESULTS IN IAG HAVING A MAXIMUM EVENT RETENTION OF A$135 MILLION
    • FY23 AGGREGATE COVER PROVIDES PROTECTION OF A$350 MILLION IN EXCESS OF A$500 MILLION
    • FY23 AGGREGATE COVER PROVIDES PROTECTION OF A$350 MILLION IN EXCESS OF A$500 MILLION
    • EXTENDED ARRANGEMENT FOR A 2.5% WHOLE-OF-ACCOUNT QUOTA SHARE FOR A FURTHER 12 MONTHS
    • STRUCTURE OF IAG'S MAIN CATASTROPHE REINSURANCE PROGRAM FOR 2022 CALENDAR YEAR REMAINS UNCHANGED
    • AGGREGATE COVER HAS BEEN PLACED TO EXTENT OF 67.5%
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