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.
IAG reinsurance program at 1 January 2025
