Company: IAG Page 1 / 1
-
- August 22 2023
IAG reveals up to US$4.5bn potential Greensill exposure
Since February, proceedings involving 20 separate claims have commenced related to the collapse of the trade credit financier, with the Australian carrier insisting it has 'no net insurance exposure'.
-
- August 21 2023
IAG’s FY underwriting profit falls A$292m after nat cat miss
IAG's H2 COR in New Zealand was 111.8% as the insurer was hit by Cyclone Gabrielle and the Auckland floods, as group cat claims at A$1.2bn came in well above its FY 2023 allowance.
-
- July 17 2023
Greensill administrator sues IAG for US$2.25bn over Liberty Steel dues: report
The Germany-based administrator claimed that any amount not repaid by Liberty should be recoverable under the insurance from the Australian insurer.
-
- July 7 2023
IAG reduces aggregate cover and increases retentions in July 1 renewals
The Sydney-based insurer purchased aggregate, third and fourth event reinsurance covers for FY 2024.
-
- July 7 2023
Hannover Re and IAG renew 2.5% quota share
The new arrangement is effective from July 1, 2023, and has a term of five years.
-
- July 3 2023
IAG-backed CGU and ANZ enter bancassurance deal
The partnership will see the personal lines insurer underwrite home, landlord and motor insurance products for the bank's retail customers.
-
- June 30 2023
Australian court fines IAG record US$26.5m for pricing misconduct
The insurer said that it will pay the penalty from the A$123m customer refund provision made earlier this financial year.
-
- June 20 2023
IAG exits Net-Zero Insurance Alliance
The Australian giant, which joins a host of global (re)insurers in leaving the UN climate group, has told IAN that it is committed to reaching net-zero by 2050.
-
- June 15 2023
IAG hikes rates substantially in New Zealand and Australia
The carrier said price rises of up to 30% were a result of unprecedented nat cats, claims' inflation and reinsurance costs.
