The general insurance sector recorded a 13.2% year-on-year increase in premiums for September, driven predominantly by a 294% surge at the Agriculture Insurance Company of India.
Premiums placed by intermediaries rose to A$21.5bn in the first half, led by a rise in unauthorised foreign insurers, though APRA-authorised carriers continue to hold the lion’s share of premiums.
Industry expected to reach US$3.3bn by 2030 as vehicle sales surge, but insurers face mounting claims costs from natural disasters and increased traffic incidents.
