IAG engages reinsurance programme after gross flood losses of A$350mn+
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IAG engages reinsurance programme after gross flood losses of A$350mn+

Rachel Dalton
03 February 2023
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Insurance Australia Group (IAG) is to take a maximum event retention of A$236mn ($167mn) from the Auckland flooding event, with gross losses expected to be in excess of A$350mn.

The carrier said a combination of its cat and whole-account quota share arrangements will limit its net losses from the flooding to A$236mn.

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News Claims and losses
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Rachel Dalton
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