Reinsurance News

RACQ

IAG raises FY26 guidance following RACQ Insurance acquisition

23rd October 2025

Australian insurer IAG has upgraded its FY26 guidance following the successful acquisition of the Royal Automobile Club of Queensland’s (RACQ) insurance business. IAG now expects FY26 gross written premium (GWP) growth of around 10%, up from its previous low-to-mid single-digit range, reflecting the inclusion of RACQ Insurance (RACQI) from 1st September ... Read the full article

IAG to acquire 90% of RACQ’s insurance underwriting business

28th November 2024

Australian insurer IAG is to acquire 90% of RACQ’s existing insurance underwriting business for $855m, under a 25-year exclusive partnership between the two companies. According to the announcement, IAG also has the option to acquire the remaining 10% in two years on similar terms. RACQ Chief Executive Officer David Carter said: RACQ ... Read the full article

RACQ Insurance joins the Australian Cyclone Reinsurance Pool

4th July 2023

One of Queensland’s leading insurers, RACQ Insurance, has joined the Federal Government’s Cyclone Reinsurance Pool prior to the 2023-24 cyclone season. This announcement comes after insurer Suncorp Group announced last week that it has joined the pool as well. Queenslanders have continued to face the devastating impacts of extreme weather. ... Read the full article

Enstar completes loss portfolio transfer with RACQ

2nd June 2023

Legacy specialist Enstar Group announced that one of its wholly-owned subsidiaries closed a previously announced Loss Portfolio Transfer (LPT) agreement with RACQ Insurance to reinsure 80% of RACQ’s motor vehicle Compulsory Third Party (CTP) insurance liabilities covering accident years 2021 and prior. Effective from July 1, 2022, the reinsurance agreement entails ... Read the full article

Enstar to enter Loss Portfolio Transfer with RACQ

22nd February 2023

Enstar Group has announced that one of its wholly-owned subsidiaries has signed a Loss Portfolio Transfer (LPT) agreement with RACQ Insurance to reinsure 80% of RACQ’s motor vehicle Compulsory Third Party (CTP) insurance liabilities covering accident years 2021 and prior. RACQ will cede net reserves of approximately AUD$360 million, while Enstar’s ... Read the full article