Speaking at the ICA’s 2025 Annual Conference, Steve Johnston said insurers must innovate to serve climate-exposed communities and rebuild public trust.
The insurer plans to redeploy proceeds from about US$25bn in cross-shareholding sales, as Japanese regulators press major carriers to cut legacy equity stakes and improve capital efficiency.
Cyclone pool ends year with a A$1.21bn operating deficit, but Australian Reinsurance Pool Corporation said it remains cash-flow positive and able to meet all expected claims.
Australia’s per capita losses from extreme weather remain among the world’s highest, prompting the ICA to renew calls for tax, planning, and disaster funding reforms.
The regulator is sharpening its focus on affordability and long-term resilience as insurers face mounting cost pressures from natural disasters, inflation, and limited reinsurance capacity.
