Magazine

Read the latest edition of AIR and MEIR as an Interactive e-book

May 2023

Market Profile


Australia

Strong earnings recovery for Australian listed insurers

The five ASX-listed insurers have all achieved bottom-line growth in the first half of FY2023, reversing a declining trend in FY2022 due to a challenging operating environment with a higher incidence of natural disasters, volatile investment markets and stubborn inflation.
 

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It's time to join ARPC's cyclone pool

Australian Reinsurance Pool Corporation (ARPC) launched a Cyclone Reinsurance Pool to help reduce insurance premiums on home, commercial and strata insurance in cyclone-prone regions across Australia, as ARPC’s Dr Christopher Wallace reports.
 


The future of life insurance is healthy

Asia Insurance Review spoke with Council of Australian Life Insurers’ Ms Christine Cupitt on a range of issues impacting Australia’s life insurance industry.
 

 

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A mature and politically stable market

A recent report by S&P Global Ratings said that the Australian insurance market continues to be impacted by rising claims resulting from increased weather-related catastrophes that is fuelling premiums and reinsurance costs for property and casualty insurers.
 

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Focusing on risk mitigation

Much like the rest of the world, Australia has been affected significantly by the rise in frequency and severity of extreme weather events due to climate change and a challenging economic situation due to the rise in inflation.
 

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A credit view: Weighing the risks of more catastrophes

More fire, more rain, more storms, more natural disasters. That equals more risk, higher costs. It’s a predicament that insurers the world over are grappling with.
 

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Failure of risk management in Australia

The Governance Institute of Australia’s 2020 risk management survey highlighted that 84% of 393 respondents believed risk management was highly valued in their organisation, up from 70% in 2019.
 


Bancassurance in Australia

Where is bancassurance in Australia headed? Does it have a sustainable future given the dominance of a few large insurers?
 

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Strengthening regulation to prepare for the future

We look at some of the priorities for Australia’s financial regulators in the coming years.
 

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Australian InsurTech firms scale internationally despite limited capital

InsurTech start-ups in Australia do not have the same access to funding as other markets. However, there are plenty of opportunities for them to expand internationally and serve the needs of the insurance industry.
 

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