IAG Finalises the 2019 Catastrophe Reinsurance Program. AUD 7.50 FVE Unchanged
No-moat Insurance Australia Group’s catastrophe reinsurance program for calendar 2019 is in place and is broadly in line with 2018. Gross reinsurance protection increases to AUD 9 billion from AUD 8 billion to provide additional cover above internally modeled exposures. There is no change to the first event retention of gross AUD 250 million, or AUD 169 million post quota share. The maximum retention of a second event increases to gross AUD 175 million, or net AUD 118 million, for calendar 2019 ...Insurance Australia Group is engaged in the underwriting of general insurance and related corporate services and investing activities. Co.'s business divisions are: Consumer, which includes short tail insurance such as motor vehicle and long tail insurance such as compulsory third party, as well as travel insurance, life insurance, income protection and funeral products; Business, which provides business and farm insurance, and workers' compensation services; New Zealand, a general insurance provider in New Zealand; Asia, which provides personal and commercial insurance products through local brands in Asia; and Corporate and other, which includes placement of Co.'s reinsurance program.
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