Reinsurance News
Australian Reinsurance Pool Corporation
ARPC cyclone reinsurance pool claim payments exceed $1bn
8th April 2026
Australian Reinsurance Pool Corporation (ARPC) has reached a major milestone, with total cyclone reinsurance pool claim payments now exceeding $1 billion since the scheme commenced. ARPC is a public financial corporation established under the Terrorism and Cyclone Insurance Act 2003. The Terrorism Reinsurance Pool commenced operations on 1st July 2003, and ... Read the full article
ARPC completes reduced $2bn terrorism retrocession program for 2026
16th February 2026
Australia’s terrorism reinsurance pool, administered by Australian Reinsurance Pool Corporation (ARPC), has purchased a reduced terrorism retrocession limit of $2 billion, with an increased deductible of $500 million, for the 2026 calendar year. ARPC explained that this reflects its current assessment of portfolio risk, prevailing reinsurance market conditions, and the protection ... Read the full article
Insurers to access Terrorism Reinsurance Pool as Bondi Beach attack declared a terrorism incident
16th December 2025
The Bondi Beach attack on December 14th has been declared a terrorism incident for insurance purposes under the Terrorism and Cyclone Insurance Act 2003 (TCI Act), activating the Terrorism Reinsurance Pool (TRP) as the Insurance Council of Australia (ICA) declares the attack a significant event. The declaration made by the Treasurer ... Read the full article
Confidence in the Australian Reinsurance Pool Corporation remains strong: ORIMA Research
2nd September 2025
Insurer confidence in the Australian Reinsurance Pool Corporation (ARPC) remains high, according to the latest 2024/25 Insurer Customer Survey, conducted independently by ORIMA Research. Among its key findings, the survey - which captured feedback from 75 insurer customers - revealed high levels of satisfaction across both the Terrorism and Cyclone Reinsurance ... Read the full article
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
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
Capacity stable at Australia & NZ mid-year renewals as insurers adjust to higher retentions: Aon
30th June 2023
Insurers in Australia and New Zealand are adjusting to higher net retentions as reinsurers continue to move away from frequency risk amid consecutive years of heavy major catastrophe losses in the region. But despite the headwinds and increased demand for protection, capacity was stable and sufficient thanks to the support ... 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
Allianz Australia joins ARPC Cyclone Reinsurance Pool
13th January 2023
Allianz Australia Insurance Ltd has joined the Cyclone Reinsurance Pool as an insurer customer, the Australian Reinsurance Pool Corporation (ARPC) has announced. According to the announcement, the insurer has joined the cyclone pool for their Home Insurance business including Buildings, Contents, Landlord Buildings, Landlord Contents, and the private dwelling of Farm ... Read the full article
APRA finalises reporting standards changes for cyclone reinsurance pool
25th August 2022
The Australian Prudential Regulation Authority (APRA) is finalising changes to six general insurance reporting standards that incorporate APRA’s earlier clarification of the treatment of reinsurance recoverables from the Australian Reinsurance Pool Corporation (ARPC). The Australian Government announced its intention to establish a reinsurance pool covering the risk of property damage ... Read the full article
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