IAG confirms 2025 reinsurance protection
IAG today confirmed it has successfully placed its catastrophe reinsurance program for the 2025 calendar year.
In conjunction with IAG's whole of account quota share (WAQS) arrangements, the 2025 catastrophe reinsurance program provides a main catastrophe cover for two events up to $10 billion, with an attachment at $500 million.
In addition, as announced on 28 June 2024, from FY25 to FY29, IAG's reinsurance cover also includes long-term natural perils volatility protection, which in combination with the WAQS provides around $1 billion in additional protection annually, and up to $4 billion over the entire five-year period, for natural peril event costs under $500 million.
IAG received strong support from reinsurance partners in placing the annual catastrophe program.William McDonnell
Chief Financial Officer
IAG Chief Financial Officer William McDonnell said: "IAG received strong support from reinsurance partners in placing the annual catastrophe program. Reinsurance is a key component of our low volatility strategy providing downside protection against natural perils costs exceeding our FY25 allowance of $1,283 million."
IAG will announce its financial results for the six months to 31 December 2024 on 13 February 2025.
