The insurer behind the RACV and NRMA brands saw profits climb and flagged an up to 9 per cent rise on premiums in the 2025 financial year.
The febrile hunt for profiteers in the midst of a cost-of-living crisis meant Australia’s largest companies had to worry about the potentially disastrous consequences of doing too well.
Australian insurers expect premiums to continue rising this year despite growing concerns about affordability and the growing impact on the country’s inflation figures.
Cyber attacks on companies are common enough,but will only become more so – and AI will drive an increase in their quantity and quality.
Insurance giants are calling for planning reform and home relocations to avoid spiralling premiums.
General counsel and company secretary Peter Horton will leave immediately after the insurer concluded his behaviour had fallen short of its code of ethics and conduct.
After insurers were hit by record-breaking flood costs last year,investors are betting giants such as IAG and Suncorp could benefit from a hot,dry summer.
The corporate watchdog is taking the companies behind brands including SGIO,SGIC and RACV to Federal Court for allegedly promising misleading discounts.
The insurer that runs NRMA and CGU will increase premiums to cover rising costs amid more frequent disasters,all while eyeing a profit of up to $1.4 billion for the next financial year.
Insurance giant IAG says a high proportion of customers continue to renew their home and car insurance policies,despite premiums rising by about 10 per cent.
Insurance Australia Group says premiums are set to keep rising steeply for at least another year as it passes on higher costs.