The Australia‑listed insurer’s Q1 trading update highlighted solid premium momentum alongside net catastrophe claims exceeding half of its first‑half allowance.
The new policy triggers financial relief when a set number of people are affected by extreme weather, and follows the rollout of a similar impact-based policy in Lao PDR in 2025.
Floods and earthquakes dominated Asia’s catastrophe losses in 2025, underscoring challenges linked to urbanisation, exposure growth and risk assessment, according to Swiss Re.
The updated figure is built from high-resolution postcode loss data across property and motor hull lines, and includes maximum estimated hail size at postcode level.
