We recommend that consideration is given to urgently reviewing your current insurance arrangements as it is essential that cover is updated in conjunction with changes in risk profile.
We are pleased to share with you our insurance market outlook for Q4 2021 which details the Australian General Insurance Industry performance over the last 12 months.
The December 2021 results, whist demonstrating a continued deceleration of pricing in the sector, have been impacted by catastrophes in late 2021 and we predict will continue to do so in relation to the QLD and NSW Flood events in early 2022. The insurer year on year profitability was ultimately up by significant margin which was due to strong underwriting results in early 2021 however Q4 itself tempered the end of year performance and we advise a cautious optimism.
Allegiant IRS’ unique approach and knowledge of the insurance market, including our tailored strategy, advice based approach and our focus on the right coverage ensures our clients’ insurance programs are as insulated as possible from the unpredictability of the current insurance market cycle.
To read more about the trends observed across major classes and broader industry in Q1, view our report below.
Brad Russell
Partner
T +61 7 3233 8786 E brussell@mccullough.com.au
Ian Dobbs
Director
T +61 7 3914 8301 E idobbs@allegiantirs.com.au
Sonya McCall
Senior Account Manager
T +61 7 3914 8307 E smccall@allegiantirs.com.au
Cormack Hankinson
Senior Account Manager
T +61 7 3914 8303 E chankinson@allegiantirs.com.au