Reinsurance News
Insurance Australia Group
ACCC opposes IAG’s acquisition of RAC WA’s insurance arm
11th December 2025
The Australian Competition and Consumer Commission (ACCC) has announced its opposition to Insurance Australia Group Limited’s (IAG) proposed acquisition of RAC Insurance Pty Limited (RACI) from the Royal Automobile Club of Western Australia Inc, citing concerns that the deal would likely lead to a substantial reduction in competition in the ... Read the full article
ICA declares NSW floods ‘Insurance Catastrophe’ as claims received nears 5,000
27th May 2025
The Insurance Council of Australia (ICA) has upgraded the Mid North Coast and Hunter flooding event classification to an "Insurance Catastrophe" due to updated feedback on ground information about local event severity. So far, insurers have received 4,900 claims from the event, which has seen flooding in the Mid North Coast ... Read the full article
IAG and RAC announce strategic alliance to deliver insurance to Western Australians
19th May 2025
Insurance Australia Group (IAG) has entered a strategic alliance with The Royal Automobile Club of Western Australia (RAC) to provide general insurance products and services for RAC members and Western Australians. The transaction includes IAG's purchase of the RAC Insurance (RACI) business and a 20-year exclusive distribution agreement for RAC branded ... Read the full article
Allianz, IAG considering bid for Western Australia’s top insurer: Bloomberg
6th February 2025
Allianz and Insurance Australia Group (IAG) are considering bids for the insurance division of the Royal Automobile Club of Western Australia (RAC), according to a recent Bloomberg article. A spokesperson for RAC confirmed the review, stating the organisation is always looking to enhance its member experience and services, including insurance, but ... Read the full article
Enstar completes ADC agreement with IAG for long-tail reserves coverage
29th August 2024
Enstar has completed a transaction between its wholly-owned subsidiary, Cavello Bay Reinsurance Limited, and Insurance Australia Limited, on behalf of IAG, to provide adverse development cover (ADC) for IAG’s long-tail reserves. IAG announced this transaction in June 2024, alongside a five-year natural perils reinsurance agreement with National Indemnity Company and ... Read the full article
IAG to utilise RMS’ HD New Zealand earthquake model
19th October 2018
Multinational insurer Insurance Australia Group has licensed the RMS High Definition New Zealand Earthquake Model, strengthening its ability to perform granular risk quantification as perform strategic risk management decisions. The RMS High Definition (HD) New Zealand Earthquake model is the world’s first earthquake model to benefit from the RMS HD model ... Read the full article
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