Australia
Australia private health insurance net profit surges by 107.8% in Q1
In the year to 31 March 2022, net profit after tax reached $1.42b.
Australia private health insurance net profit surges by 107.8% in Q1
In the year to 31 March 2022, net profit after tax reached $1.42b.
Nat Cat makes home insurance unaffordable in Australia
This could ultimately lead to underinsurance or no insurance at all.
520,944 properties in Australia to be uninsurable by 2030
Riverine flooding poses the biggest risk to properties.
Australia Eastern flood losses reaches record breaking AU$3.99b
The loss numbers cover property and motor hull lines of business.
Premiums up, investments down in Australia’s general insurance industry
KPMG outlined influential factors for the industry’s performance in 2021.
Tokio Marine’s GCube expands footprint in Australia
The firm is also expanding its presence in Spain.
ICA commends the federal budget on resiliency and cybersecurity
The federal government has set aside a total of $201.26m in related measures
ICA calls for major overhaul of Australia's cyber insurance market
The group highlights challenges to maintaining and developing a cyber insurance market.
Australia general insurance investment income drops by 76.3% in 2021
However, industry profit still increased to $1.24b compared to $43.77m in 2020.
Australia private health insurers rallies in 2021 with 229.3% surge in profits
The increase was driven by insurance profits and investment income recovery.
AIA sells Australian savings and investment business
AIA said that the business is no longer core to its business strategy.
ICA urges Australian governments to double Federal funding to AU$200m a year
The council said this will help make the country more resilient against extreme weather.
New Zealand underwriter Delta Insurance opens doors in Australia
Former Chubb exec, Stephen Carey, spearheaded the branch’s opening.
Australia general insurance industry to balloon to $73.6b by 2026
Increased vehicle sales and demand for nat-cat policies helped boost the industry.
Australia life insurance industry turns profitable in 2021
Return on net assets increased by 3% for 2021, up from -6% in 2020.
APRA proposes reforms to strengthen private health insurance
One of the proposals is to increase minimum capital requirements.
Australia’s private health insurance rebounds to 44.7%
The country’s private health has been on a steep decline since 2015.
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Insurers need cultural overhaul in digital push
![Insurers need cultural overhaul in digital push]()
Digitalisation seeks to simplify processes, not complicate things.
Digitalisation seeks to simplify processes, not complicate things.
