IAG CEO Nick Hawkins Warns of Continued Insurance Premium Increases

Nick Hawkins, CEO of Insurance Australia Group (IAG), has indicated that Australians should brace for continued increases in insurance premiums, although at a slower pace than in previous years.

Speaking to The Business, Mr.

Hawkins attributed the rising costs to inflationary pressures that have impacted both insurers and policyholders, with costs escalating across Australia and New Zealand.

Despite a 91% rise in net profit for the first half of the financial year, largely due to favorable weather conditions, Mr. Hawkins emphasized that the future looks more favorable for consumers. He expects the inflationary impact on insurance to reduce over the next six to twelve months, with premiums increasing more in line with general inflation rates.

For policyholders, this means that while premiums may continue to rise, the rate of increase is expected to slow. Consumers are encouraged to review their policies regularly, compare offerings from different insurers, and consider factors such as coverage options and customer service when selecting an insurance provider.

Published:Monday, 29th Sep 2025
Source: Paige Estritori

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Nick Hawkins, CEO of Insurance Australia Group (IAG), has indicated that Australians should brace for continued increases in insurance premiums, although at a slower pace than in previous years. Speaking to The Business, Mr. Hawkins attributed the rising costs to inflationary pressures that have impacted both insurers and policyholders, with costs escalating across Australia and New Zealand. - read more

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Aggregate Limit:
The maximum amount an insurer will pay for all covered losses during a policy period.

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