IAG claims A$95mn of aggregate reinsurance cover after floods
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IAG claims A$95mn of aggregate reinsurance cover after floods

Fiona Robertson
09 March 2022
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IAG has used about A$95mn ($69mn) or 40% of its A$236mn aggregate reinsurance cover following recent flooding in Australia, it announced overnight.

The figures are net of the share that pro rata reinsurers take of its reinsurance treaties.

The insurer took A$74mn of net losses from the storm – lower than its prior estimated retention of A$95mn because previous claims had deteriorated...

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