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• Australian Insurers Falling Behind in Cyber Risk Preparedness

  Recent findings from the PwC Insurance Banana Skins Survey reveal that Australian insurers are trailing their global counterparts in preparedness for emerging risks, particularly in the realms of cyber threats and artificial intelligence (AI). This lag poses significant challenges as the industry confronts an increasingly complex risk landscape.

• Australian General Insurers Report Decade-High Return on Equity

  Australia's general insurance industry has reported a remarkable 19% return on equity (ROE) for the financial year 2025 (FY25), marking the highest level in a decade.

• Australian Life Insurance Market Set for Steady Growth

  Australia's life insurance sector is on track for moderate expansion over the next four years, with gross written premiums (GWP) forecasted to increase from $26.2 billion in 2025 to $30.5 billion by 2029. This represents a compound annual growth rate (CAGR) of 3.9%, according to recent analysis by GlobalData.

• EQT's Bold Move: A $3.41 Billion Bid for AUB Group

  In a significant development within the Australian insurance sector, Swedish private equity firm EQT has extended a takeover offer for AUB Group, valuing the insurance broking company at A$5.25 billion (US$3.41 billion). This proposal includes a price of A$45 per share, representing a 25.1% premium over AUB's last closing price.

• Suncorp's Strong Financial Performance: $1.49 Billion Profit and Share Buyback

  Australian insurer Suncorp has reported stronger-than-expected full-year cash earnings of A$1.49 billion for the fiscal year ending June 30, 2025, surpassing the consensus estimate of A$1.47 billion. Statutory profit surged 52% to A$1.82 billion due to one-off gains from the sale of its banking operations.

• ACCC Raises Concerns Over IAG's Proposed Acquisition of RAC Insurance

  Australia’s competition regulator, the Australian Competition and Consumer Commission (ACCC), has raised concerns over Insurance Australia Group’s (IAG) proposed A$1.35 billion (US$877 million) acquisition of the Royal Automobile Club of Western Australia’s (RAC) insurance business.

• RBA Holds Cash Rate at 3.60%, Forecasts Extended Stability

  The Reserve Bank of Australia (RBA) has announced its decision to maintain the official cash rate at 3.60% during its December meeting, signaling a potential extended hold through 2026. This move comes in response to higher-than-expected inflation rates and a robust economic performance.

• ANZ CEO Nuno Matos Takes Helm at Australian Banking Association

  The Australian Banking Association (ABA) has appointed Nuno Matos, CEO of ANZ Group, as the new chair of its council, succeeding National Australia Bank's Andrew Irvine.

• IAG Highlights Climate Change's Impact on Rising Home Insurance Costs

  Insurance Australia Group (IAG) has issued a warning to Australian homeowners about the escalating impact of climate change on home insurance premiums. The insurer attributes the rising costs to the increasing frequency and severity of weather events, such as storms and hailstorms, particularly affecting densely populated regions in southern Australia.

• QBE Insurance Faces Market Challenges with Slower Premium Growth

  QBE Insurance Group, Australia's largest insurer by market value, recently experienced a significant decline in its share price, reaching a seven-month low. This downturn is primarily attributed to a noticeable slowdown in the company's premium rate growth during the third quarter of fiscal 2025.

• Australian Insurers Face Challenges in Risk Preparedness

  Recent findings from the PwC Insurance Banana Skins Survey have highlighted a concerning trend: Australian insurers are trailing behind their global counterparts in terms of preparedness for emerging risks.

• Allianz Australia Penalised for Misleading Insurance Practices

  In a significant regulatory development, Allianz Australia and its subsidiary, AWP Australia, have been fined $16.8 million for making false and misleading statements. This penalty underscores the critical importance of transparency and honesty in the insurance industry.

• IAG Projects Significant Premium Growth and Profit Increase for FY26

  Insurance Australia Group (IAG) has announced an optimistic forecast for the financial year 2026, anticipating a 10% increase in gross written premium (GWP) and an insurance profit ranging between $1.55 billion and $1.75 billion. This projection follows a robust performance in FY25, where IAG reported a 4.

• Australian General Insurers Report Record 19% Return on Equity in FY25

  Australia's general insurance industry has reported a 19% return on equity (ROE) for the financial year 2025, marking the highest level in a decade. This significant achievement is detailed in the latest Optima Report by actuarial consultancy Finity, which attributes the strong performance to a combination of favorable factors.

• Australian Home Insurance Premiums Expected to Rise After $1.8 Billion in Claims

  Australian homeowners are bracing for increases in insurance premiums following a series of extreme weather events in early 2025 that led to $1.8 billion in claims. The Insurance Council of Australia (ICA) has highlighted that the growing frequency and intensity of such events are significantly impacting insurance costs nationwide.

• EQT Proposes $3.41 Billion Acquisition of AUB Group

  In a significant development within the Australian insurance industry, Swedish private equity firm EQT has made a takeover offer for AUB Group, valuing the company at A$5.25 billion (US$3.41 billion). This proposal includes a price of A$45 per share, representing a 25.1% premium over AUB's last closing price.

• AIA Australia Unveils Innovative Member Insurance Portal

  AIA Australia has launched a cutting-edge Member Insurance Portal designed to provide a streamlined insurance experience for group insurance customers. This digital initiative aims to optimize the claims process, offering members the ability to track their claims throughout the entire lifecycle, thereby ensuring transparency and simplicity during potentially challenging times.

• Australian Insurers Achieve $6.1 Billion Profit Amid Rising Premiums

  Australia's insurance industry has reported an after-tax profit of $6.1 billion for the year 2024, a figure that is three times higher than the five-year average of $2 billion. This substantial increase is attributed to significant premium hikes and a relatively benign year for natural disasters.

• EQT's $3.41 Billion Bid for AUB Group: A Game-Changer in Australian Insurance

  In a significant development within the Australian insurance sector, Swedish private equity firm EQT has proposed a takeover of AUB Group, valuing the company at A$5.25 billion (US$3.41 billion). This offer represents a 25.

• AIG Australia Penalised for Breaching Insurance Code Obligations

  The Insurance Code Governance Committee has imposed a $30,000 penalty on AIG Australia for breaching its obligations under the insurance code.

• Reinsurance: The Backbone of Stability for Australian Insurers

  A recent report by the Actuaries Institute has shed light on the pivotal role of reinsurance in maintaining the stability and affordability of Australia's insurance sector. The study reveals that without investing approximately $2.

• ASIC Initiates Legal Action Against RACQ Insurance Over Misleading Premium Practices

  The Australian Securities and Investments Commission (ASIC) has commenced Federal Court proceedings against RACQ Insurance, a subsidiary of Insurance Australia Group (IAG), alleging that the insurer misled over 570,000 customers through deceptive premium comparison pricing in renewal notices issued between September 2019 and December 2024.

• Australian Insurance Industry Reports Record $6.1 Billion Profit Amid Rising Premiums

  Australia's insurance industry has reported an after-tax profit of $6.1 billion for the year 2024, a figure that is three times higher than the five-year average of $2 billion. This substantial increase is attributed to significant premium hikes and a relatively benign year for natural disasters.

• Northern Territory Homeowners Experience Rising Insurance Premiums Despite Cyclone Reinsurance Pool

  Homeowners in the Northern Territory are facing significant increases in insurance premiums, despite the federal government's cyclone reinsurance pool established in 2022 to lower costs in cyclone-prone areas.

• Allianz Australia Penalised for Misleading Insurance Practices

  In a significant regulatory development, Allianz Australia and its subsidiary, AWP Australia, have been fined $16.8 million for making false and misleading statements. This penalty underscores the critical importance of transparency and honesty in the insurance industry.

• Allianz Australia Completes Acquisition of RAA Insurance

  Allianz Australia has successfully completed the acquisition of RAA Insurance for $642 million, marking a significant expansion of its operations in South Australia. This strategic move is set to enhance Allianz's market presence and diversify its service offerings in the region.

• Australian Government Provides Income Support to Workers Affected by Cyclone Alfred

  The Australian government has announced financial support measures for workers affected by ex-Tropical Cyclone Alfred, which recently caused severe flooding, power outages, and property damage across Queensland and New South Wales. This initiative aims to alleviate the financial burden on individuals who have lost income due to the cyclone's impact.

• ASIC Takes Legal Action Against QBE Over Misleading Discount Practices

  The Australian Securities and Investments Commission (ASIC) has commenced Federal Court proceedings against QBE Insurance, alleging that the insurer misled more than 500,000 customers regarding pricing discounts between July 2017 and September 2022. This legal action underscores the regulator's commitment to ensuring transparency and fairness in the insurance sector.

• Suncorp Achieves $1.49 Billion Profit and Initiates $262 Million Share Buyback

  Suncorp, one of Australia's leading insurers, has reported an 8% increase in full-year cash earnings, reaching A$1.49 billion for the year ending June 30, 2025. This performance surpasses analyst expectations and underscores the company's robust financial health.

• ACCC Raises Competition Concerns Over IAG's Proposed Acquisition of RAC Insurance

  The Australian Competition and Consumer Commission (ACCC) has expressed concerns regarding Insurance Australia Group's (IAG) proposed A$1.35 billion acquisition of the Royal Automobile Club of Western Australia's (RAC) insurance business.

• 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.

Read our Articles

• Comparing Comprehensive, Third Party, and Third Party Fire and Theft: Which Car Insurance is Right for You?

  Car insurance is a crucial aspect of vehicle ownership in Australia, offering protection and peace of mind in the event of an accident or other unforeseen circumstances. However, with numerous options available on the market, choosing the right policy can be overwhelming.

• Common Misconceptions About Home Insurance in Australia

  Home insurance is an essential safety net for Australians, providing financial protection against unexpected events that could damage your most significant asset—your home. It ensures that you have the necessary support to rebuild or repair in the event of disasters like storms, fire, or theft.

• Understanding Home Insurance Coverage Options: What Protects Your Property?

  Home insurance is a critical element for any Australian homeowner, providing financial protection against an array of unexpected events. Essentially, it's a policy that covers losses and damages to an individual's residence, along with furnishings and other assets in the home.

• The Role of Life Insurance in Your Overall Financial Strategy

  Financial planning plays a pivotal role in managing your economic resources effectively. By assessing your income, expenses, and goals, you can create a plan that helps achieve financial security. A comprehensive financial plan covers saving, investing, budgeting, and managing liabilities to secure your future.

• Business Insurance Essentials: What Every Australian Entrepreneur Should Know

  Running a business comes with its fair share of risks and challenges. From natural disasters to employee injuries, there's a lot that can go wrong. This is why having the right business insurance is crucial for any Australian entrepreneur.

• Common Cyber Threats Facing Small Businesses and How Insurance Can Help

  In today's digital age, cybersecurity has become a critical factor for businesses of all sizes. Small businesses, in particular, are increasingly targeted by cybercriminals due to their perceived vulnerabilities. Cybersecurity involves implementing measures to protect computer systems, networks, and data from malicious attacks.

• The Ultimate Guide to Understanding Life Insurance in Australia

  Life insurance is a contract between an individual and an insurance company. The insurer promises to pay a designated beneficiary a sum of money upon the death of the insured person.

• How to Compare Truck Insurance Policies in Australia: A Guide for Drivers

  When it comes to navigating the sprawling roads of Australia, truck drivers bear a significant responsibility. Not only are they tasked with the safe transportation of goods across vast distances, but they must also protect themselves and their vehicles from the unforeseeable.

• The Ultimate Guide to Choosing the Best Travel Insurance for Your Australian Adventure

  Embarking on an Australian adventure can ignite excitement in the heart of any traveller, but being prepared for the unexpected should be top of mind. Travel insurance is an essential travel companion that safeguards your journey from unforeseeable circumstances.

• Business Insurance in Australia: How to Ensure You're Fully Covered

  Embarking on the journey of entrepreneurship entails foreseeing and mitigating risks before they turn into setbacks for your business. In Australia, safeguarding your enterprise with adequate business insurance is not just a regulatory requirement, but also a strategic move to protect your company's future.

• The Comprehensive Comparison: Evaluating Different Insurance Providers in Australia

  Welcome to the comprehensive guide on evaluating different insurance providers in Australia. Navigating through the plethora of insurance options can be overwhelming. With a market full of competing insurers, choosing the right provider is critical to ensuring ample protection for your assets, health, and peace of mind.

• Protecting Your Legacy: Estate Planning and Life Insurance for Australians

  When thinking about the future, it's essential to have a comprehensive strategy that ensures the well-being of your loved ones and the security of your assets. Estate planning and life insurance are two critical pillars in safeguarding your family's financial stability.

• Family Planning: Exploring Life Insurance Options for New Parents

  Stepping into parenthood comes with a myriad of responsibilities, one of which includes securing your family's financial future. Life insurance serves as a financial cornerstone for young professionals who are navigating the complexities of family planning.

• Starting Out: How to Pick the Right Insurance As a Young Professional in Australia

  Welcome to the journey of safeguarding your future! As a young professional in Australia, you're likely juggling the demands of a burgeoning career with personal goals and financial responsibilities. Navigating the world of insurance is critical in creating a safety net around these aspirations.

• How to Compare Life Insurance Policies in Australia Without Overpaying

  Life insurance stands as a pillar of financial stability in the lives of many Australians, providing peace of mind and security for families and individuals facing the uncertainty of the future.

• The Differences Between Public Liability and Professional Indemnity Insurance

  In the dynamic world of commerce, Australian businesses face a plethora of risks daily. Business insurance serves as a safeguard, ensuring that the unforeseen does not hinder the stability and growth of an enterprise.

• Unlocking the Best Business Insurance: A Guide for Aussie Entrepreneurs

  Welcome to the guide designed to navigate Australian entrepreneurs through the intricate world of business insurance. In an era where risks are as diverse as they are frequent, choosing the right insurance is not just prudent—it's a critical element of sustaining and growing your enterprise.

• Deciphering Policy Jargon: A Beginner's Guide to Australian Insurance Terms

  Welcome to the world of insurance in Australia - a realm where jargon often clouds the true meaning of policies, leaving many bewildered. But fret not! This guide is here to shine a light through the haze, demystifying the language that stands between you and informed insurance decisions.

• Navigating Business Interruption Insurance: A Lifeline for SMEs

  Understanding the safeguards available to protect businesses during times of unexpected adversity is crucial, especially for Small and Medium-sized Enterprises (SMEs). Chief among these safeguards is business interruption insurance. This form of coverage is designed to offer financial assistance to businesses that endure losses due to unforeseeable disruptions.

• Income Protection: How to Safeguard Your Earnings in Uncertain Times

  In the landscape of personal financial planning, income protection insurance emerges as a critical safeguard against the unpredictable nature of life's many uncertainties. As we navigate through economic turbulence and job market volatility, the importance of income protection becomes ever more apparent.

• How to Choose the Right Boat for Your Needs and Budget

  Choosing the right boat can be a daunting task, particularly if you’re new to boating or unfamiliar with the full range of options available.

• How to Make a Claim on Your Boat Insurance Policy in Australia

  Boat insurance claims are an important aspect of owning a boat, as accidents and damages can happen unexpectedly. It is essential to understand the boat insurance claim process in Australia, as it can be complex and overwhelming at times.

• Comparing Boat Insurance Policies: Which One is Right for Your Needs?

  As recreational boating continues to grow in popularity, boat insurance has become an important consideration for boat owners. Boat insurance provides protection for your vessel in case of accidents, theft, or damage.

• Boat Insurance: How a Specialist Broker Can Save You Time, Money, and Hassle

  Boating can be an enjoyable pastime, but it also comes with risks. From accidents to theft, unexpected events can take a toll on your finances and boat. This is where boat insurance comes in.

• How to Save Money on Your Boat Insurance Premiums

  Boat ownership comes with many responsibilities, including obtaining adequate insurance coverage. However, as with any type of insurance, boat insurance premiums can quickly become costly. It's essential to save as much as possible on your policy without sacrificing the necessary protection it provides.