Australia's largest stock trading and investment forum Australia's #1 stock forum

'Red alert' after key global warming records were smashed in 2023, page-73

First 73 Last

Share
Profile

Follow
nippy

14,833 Posts.

894

20/03/24

13:39

Post #: 72977147
Share

Originally posted by kingy: ↑

From iag report...increased natural perils allowance by 26%
How effing dumb are you lot

was another significant perils year and we saw the devastating impacts of multiple large-scale events across Australia and New Zealand on our customers and communities. We are now moving to warmer and dryer conditions which should see a shift away from rain dominated claims.We’ve increased our FY24 natural perils allowance by 26% to $1.147b, up from $909m in FY23. We estimate around 20% of premiums we collect now cover reinsurance costs and the perils allowance.We will continue to play our part in supporting our customers and communities and remain committed to working with all levels of government on initiatives that will improve community resilience and reduce risk.

Expand

You total naive fool!

The term "allowance" is a not an actual expense.

The actual total risk events reduced in actual fact so their profits went through the roof.

Reporting of the events that did occur does not mean overall event numbers went up.

Wake up.
4 Upvote

Reply

Top Stories

Listen: HotCopper Wire Podcast 018 – Potatoes, TACOs, and the $120M helicopter heist

DRO

History repeats for DroneShield investors but carnage so far subdued

PSC

Prospect's Mumbezhi Project puts it at the middle of copper's megatrend. And FQM just bought in

SER

Strategic Energy extends its QLD copper-gold frontier with Diamantina acquisition

AII

A new NASDAQ listing for a key player in the global critical minerals space

Week 29 Wrap: ASX hits new all time high of 8,766pts ahead of Aug 1

BDM

Burgundy plunges -20% after turning to layoffs to navigate record-low diamond prices

SYR

Syrah jumps +19% as graphite tariff threat spurs optimism down under

HotCopper Highlights: Trigg; Droneshield; Lumos & more

STN

Saturn brings up seventh straight Apollo Hill upgrade on 'impressive' 300-hole drill run

First 73 Last