Reinsurance News
ARPC
Cyclone Reinsurance Pool reduces insurance premiums for Australians in high risk areas
20th May 2025
The Cyclone Reinsurance Pool, a reinsurance arrangement between insurers and Australian Reinsurance Pool Corporation (ARPC), has significantly reduced insurance premiums and improved insurance availability for Australians living in cyclone-prone areas, according to a recent analysis. Having started operations on 1 July 2022 and backed by a $10 billion Government guarantee, the ... Read the full article
Cyclone Reinsurance Pool faces A$1.7bn loss from Alfred
26th March 2025
Australian Reinsurance Pool Corporation (ARPC) has provided preliminary loss estimates on ex-Tropical Cyclone Alfred, with initial modelling indicating that total losses covered by the Cyclone Reinsurance Pool are approximately A$1.7 billion. The ARPC noted that this estimate is likely to change as further assessments are conducted and more claims data becomes ... Read the full article
ARPC completes 2025 terrorism retrocession program with smaller limit
24th February 2025
Australia’s terrorism reinsurance pool, administered by ARPC, has finalised its retrocession program for the 2025 calendar year with a smaller limit and an increased deductible. According to ARPC, this adjustment reflects its current view of risk for the portfolio and its assessment of value for money in the risk transfer. The retrocession, ... Read the full article
ARPC reports strong operating result of $710m for FY 2023-24
28th October 2024
The Australian Reinsurance Pool Corporation (ARPC), a government-backed provider of reinsurance for terrorism-related risks, has released its 2023-24 Annual Report, posting an operating result of $710.1 million. During this time, ARPC received a total of $1.1 billion in gross written premiums and net assets of $1.67 billion under management. Dr. Christopher Wallace, ... Read the full article
ARPC names Karin Rathbone Chief Risk Officer
19th July 2024
The Australian Reinsurance Pool Corporation (ARPC) has appointed risk management expert Karin Rathbone as Chief Risk Officer. Rathbone brings extensive experience to the role and joins ARPC after five years with Colonial First State (CFS), serving most recently as Chief Risk Officer, Investments. Prior to her role as CRO at CFS, she ... Read the full article
IAG joins Australia’s Cyclone Reinsurance Pool
13th November 2023
Australian insurance giant IAG has joined the Federal Government’s Cyclone Reinsurance Pool, administered by the Australian Reinsurance Pool Corporation (ARPC). According to IAG, the Pool aims to "reduce insurance premiums for eligible policyholders in cyclone-prone areas of Queensland, the Northern Territory, and Western Australia." IAG said it will pass on savings from ... Read the full article
ARPC declares cyclone event as Ilsa continues to strengthen
12th April 2023
The Australian Reinsurance Pool Corporation (ARPC) has declared that a cyclone event has begun in relation to Tropical Cyclone Ilsa. Christopher Wallace, Chief Executive of ARPC, has specified that the cyclone began on 11 April at 4:00 PM (AEST), adding that the claims period for the cyclone event also began at ... Read the full article
ARPC cyclone cover triggered by Cyclone Gabrielle in New Zealand
15th February 2023
The Australian Reinsurance Pool Corporation's cyclone cover has been triggered by Tropical Cyclone Gabrielle, which recently struck New Zealand in what the country's prime minister described as "the biggest weather event to hit the country in the past century." After being notified by the Bureau of Meteorology, ARPC declared Cyclone Gabrielle ... Read the full article
ARPC finalises $3.5bn terrorism retro program for 2023
18th January 2023
The Australian Reinsurance Pool Corporation (ARPC), which administers the country’s terrorism insurance scheme, has renewed its $3.5 billion retrocession program for 2023 at the same price as 2022. The retrocession, which totals around $3.5 billion, in addition to ARPC’s net assets and the $10 billion Commonwealth guarantee, provides over $14 billion ... Read the full article
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