Decline follows lower MGA volumes, with management focused on reducing volatility in both the domestic nonvoluntary cession and overseas business segments.
Federal and state-backed projects include cyclone shelters, bushfire risk reduction, and upgraded early warning systems across all states and territories.
Club is expecting a rise in premiums and improved COR for the current financial year, but said the "prudent" rate rise reflects ongoing claims volatility and geopolitical risk.
