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Insurance Australia Group Limited ( (AU:IAG) ) has issued an announcement.
Insurance Australia Group Limited (IAG) has successfully placed its catastrophe reinsurance program for the 2025 calendar year, providing main catastrophe cover for two events up to $10 billion, with a $500 million attachment. This program, in conjunction with IAG’s whole of account quota share arrangements, includes long-term natural perils volatility protection from FY25 to FY29, offering around $1 billion in additional protection annually. This initiative is part of IAG’s strategy to provide downside protection against natural perils costs that exceed their FY25 allowance.
More about Insurance Australia Group Limited
IAG is the parent company of a general insurance group with operations in Australia and New Zealand. The company underwrites over $16 billion of insurance premiums annually under several leading brands, including NRMA Insurance, RACV, CGU, and WFI in Australia, and NZI, State, AMI, and Lumley in New Zealand.
YTD Price Performance: -0.47%
Average Trading Volume: 312
Technical Sentiment Consensus Rating: Sell
Current Market Cap: $12.61B
Find detailed analytics on IAG stock on TipRanks’ Stock Analysis page.
