Reinsurance News
australia
ARPC CUO Mike Pennell to retire after long-standing service
2nd April 2026
The Australian Reinsurance Pool Corporation (ARPC), a government-backed organisation that manages national reinsurance schemes designed to support the availability and affordability of insurance in Australia, has announced that its Chief Underwriting Officer, Michael (Mike) Pennell, will retire later this year after a lengthy and influential career in the reinsurance sector. Pennell ... Read the full article
NEXI concludes reinsurance agreement with Export Finance Australia
19th March 2026
Nippon Export and Investment Insurance (NEXI) has concluded a reinsurance agreement with Export Finance Australia (EFA), aiming to efficiently support exports to third countries and business collaboration by both Japanese and Australian companies. The signing ceremony took place on 13th March 2026 at NEXI in Tokyo, Japan, between John Hopkins, Managing ... Read the full article
Gallagher Australia appoints JD Veldsman as Chief Commercial Officer
10th March 2026
Gallagher Australia, the local arm of the global insurance brokerage, risk management and consulting firm, has appointed Johannes-Daniel Veldsman as Chief Commercial Officer, where he will oversee the company’s specialist divisions and commercial strategy. In the role, Veldsman will manage Gallagher Australia’s areas of specialisation and support the continued development of ... Read the full article
Descartes names Cripps as Business Development Associate, Australia
9th March 2026
Descartes Underwriting, a specialist in corporate parametric re/insurance solutions for climate and emerging risks, has appointed Will Cripps as a Business Development Associate, further expanding its Australian operations. Cripps joins the Sydney-based team, bringing specialist expertise in the agricultural sector. In the past, he has gained extensive experience deploying IoT sensors across ... Read the full article
PERILS ups industry loss estimate for Queensland & New South Wales storms to AUD 2.95bn
27th February 2026
PERILS, the Zurich-based catastrophe insurance data provider, has increased its insurance industry loss estimate for the Queensland and New South Wales Severe Convective Storms (SCS) that occurred 21 to 27 November 2025, to AUD 2.95 billion. This second estimate compares to the initial loss estimate of AUD 2.663 billion issued ... Read the full article
AmTrust International launches Australia branch insurer
11th February 2026
AmTrust International, a global specialty insurer and subsidiary of AmTrust Financial Services, Inc., has strengthened its presence in the Australian market with the launch of its APRA licensed entity ‘AmTrust Specialty Limited’ in the country. The insurer’s decision to establish a licensed presence in Australia is a key part of its ... Read the full article
Specialist Risk Group launches Australian business
10th February 2026
Specialist Risk Group (SRG), an insurance intermediary backed by Warburg Pincus and Temasek, has expanded its global footprint with the launch of its Australian business. SRG is positioning itself as an agile challenger focused on the mid-market, combining its global reach with a high-quality local team that brings long-standing relationships and ... Read the full article
Severe Queensland and Victoria storms trigger 5,500 claims for Suncorp
31st October 2025
The insurance company Suncorp has received just over 5,500 claims, around 5,000 in Queensland and 500 in Victoria, with the net cost of the event expected to fall between $220 million and $260 million, with these estimates remaining preliminary, and final figures to be confirmed as part of the first ... Read the full article
Reinsurance shields Australian insurers from billions in losses: Actuaries Institute
4th September 2025
Australian general insurers spent around AUD2.5 billion on reinsurance last financial year, a strategy that prevented the need for up to AUD70 billion in capital to cover natural disasters and other major claims, according to research from the Actuaries Institute, the professional body representing actuaries in Australia. The Institute’s Dialogue Paper, ... Read the full article
Willis introduces Zest Insurance, a digital platform for Australian SMEs
25th June 2025
Willis, part of the WTW group, has introduced Zest Insurance, a new digital insurance platform built specifically for small and medium-sized enterprises (SMEs) in Australia. The launch signals a shift in how smaller businesses can access and manage their insurance needs—bringing together digital speed with professional support. Zest Insurance allows SMEs to ... Read the full article
Markel Insurance launches FI solutions in Australia, headed by Lan Pham and Daisy Galvin
5th June 2025
Markel Insurance, the insurance operations within Markel Group Inc., has launched Financial Institutions (FI) solutions in Australia, with localised wordings to service a broad range of organisations in the sector. This move is part of Markel's plan to progressively launch targeted and tailored specialty insurance products in the Australian market, and ... Read the full article
Kita expands carbon insurance solutions to Australia, enhancing global coverage
12th March 2025
Kita, a Lloyd's of London coverholder, has announced its expansion into the Australian market, adding to its existing coverage for buyers and investors in the UK, USA, Canada, Switzerland, Singapore, and the EU/EEA. This expansion is part of the company’s strategy to increase its global presence and support growing carbon market ... Read the full article
ACIL calls for Federal action to reduce premiums in Northern Australia
23rd January 2025
The Australian Consumers Insurance Lobby (ACIL) has made a submission to the Federal Government Pre-Budget Consultation to reinvest surplus funds from the Cyclone Reinsurance Pool into reducing insurance premiums and strengthening resilience in Northern Australia. Residents of Northern Australia face some of the country’s highest insurance premiums, often 2-3 times higher ... Read the full article
Changes to reinsurance reforms may impact Australian insurers’ credit profiles, says Fitch
20th November 2024
According to analysts at Fitch Ratings, changes to reinsurance-related capital requirements proposed by the Australian Prudential Regulation Authority (APRA) could wind up supporting Australian general insurers’ credit profiles over the medium term if they improve access to reinsurance protection. But, the agency notes, that catastrophe reinsurance pricing and the frequency, severity ... Read the full article
Climate change to drive multi-year pricing cycle for Australian personal lines insurers: BofA Securities
18th November 2024
Analysts at BofA Securities are forecasting a multi-year pricing cycle for Australian personal lines insurers, which will be primarily driven by concerns surrounding the impacts of climate change and rising peril exposures. The firm highlighted how climate change inflation is already evident in Australian insurance results, with insured peril loss inflation ... Read the full article
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