Australia Insurance – (Re)in Asia

Features and key stories

Sunset view of Sydney Harbour: the Opera House with the Harbour Bridge in the background over calm water, framed by green foliage on the sides.

Harbor scene with yachts docked along a waterfront and futuristic glass buildings under a blue sky.

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APRA finalises reinsurance reforms easing access to alternative risk-transfer solutions

The reforms, set to take effect from 1 January 2027, expand the role of Appointed Actuaries and streamline regulatory approvals.

Australia proposes sweeping overhaul of private health insurance system

A new consultation outlines changes to how PHI products are structured and funded, with feedback invited before reforms are finalised.

Australia GI rebounds in Q1 as claims ease, property losses moderate

Industry underwriting profits jumped 34% year-on-year as property lines recovered from catastrophe losses, while cyber led premium growth and motor remained profitable.

Australia’s Steadfast gets A$7.7bn takeover offer from Amwins, Dragoneer

Joint bid values Steadfast at A$7.7bn (approx. US$5.41bn), with an eight-week due diligence period underway.

Australia and New Zealand lead APAC insurance M&A in Q1 as India activity slows

Cross-border expansion by global insurers underpinned Asia-Pacific insurance M&A in Q1 2026, with a rebound in Australia and New Zealand.

A line in the strand: What Australia's genetic testing ban means for the life insurance industry

A total ban on genetic discrimination in life insurance triggers a major compliance overhaul aimed at boosting public health outcomes

Standard Club faces higher exposure after Australia court rejects liability cap on wreck claims

Australia's High Court ruled that wreck removal claims excluded under Australia's maritime reservations cannot be capped by reclassifying them as property damage.

Tasmania pivots TasInsure from state insurer to government-owned authority

The reworked model will now focus on market interventions for hard-to-insure risks, rather than competing directly with insurers.

Australia cyclone pool average premiums rise in Q4 as strata jumps 11%

Annual premiums rose 4.4% year-on-year as Cyclone Alfred pushed incurred insurance losses to A$1.41bn.

Overseas placements in Australia's intermediated market slide 15% in H2 as property, liability demand cools

Overall intermediated premiums still rose, but UFI placements weakened and inactive intermediaries edged higher.

Pacific posts third straight quarter of double-digit commercial rate declines

Region once again posted the steepest rate decline globally, softening 12% in Q1, according to Marsh data.

Australian general insurer complaints rise 30% in FY2025

ASIC's new dashboard shows that premium disputes and claims handling delays drove the rise.

Singapore, Australia show systemic risk progress, but IAIS flags liquidity disclosure gaps across markets

The IAIS's multi-year assessment of 16 jurisdictions finds resolution tools underdeveloped and liquidity stress-testing requirements uneven, even as macroprudential supervision matures.

Autonomous vehicles drive APAC insurers toward new liability era as robotaxis ramp up

Robotaxis are giving commercial shape to APAC’s broader AV market, but insurers remain constrained by limited data, fragmented regulation, and unresolved liability questions.

Australia GI results slump 88% in Q4 as householders, motor claims surge on storm losses

Widespread claims pressure erodes underwriting across the market, offset only by pockets of strength in D&O, travel and cyber.

QBE to take sole ownership of India's Raheja QBE in US$35.4m buyout

The move, subject to IRDAI approval, follows 18 years of the Group's joint ownership of the insurer with Prism Johnson Limited.

Australia’s trade credit insurance market regains momentum

Elevated insolvencies, tighter bank credit and improved product design are pushing insurers back into an under-served SME market.

Zurich Australia to acquire ClearView in A$415m deal

ClearView’s board has unanimously backed the deal, with completion expected in the third quarter of 2026, pending regulatory approval.

Japan and India buck regional slide as Asia-Pacific insurance dealmaking declines further in 2025

With only two $1bn-plus transactions all year, buyers shifted toward smaller, distribution-led plays and selective cross-border bets.

Australia's insurance complaints rise 16% as GI disputes nearly double since 2020–21

AFCA’s 2024-25 report highlights a surge in add-on insurance disputes, though delays in claims handling continue to improve.

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