QBE expects to report a 1H20 net statutory loss after tax of about $US750m ($A1.05bn), reflecting the impact of COVID-19, catastrophe experience and prior accident year claims development combined with a net investment loss of about $US125m because of extreme investment market volatility.
Tag: bushfires
IAG lowers margin guidance
IAG has increased its FY20 natural peril claims costs assumptions to $850m – up from $715m – and lowered its margin guidance to 12.5-14.5%.
Public hearings start for bushfire inquiry
The House of Representatives Standing Committee on the Environment and Energy will start public hearings for its inquiry into vegetation and land management relating to bushfires.
Insurers slam Choice for spreading fear over ‘fire definitions’
ICA has slammed Choice for spreading fear among bushfire victims with accusations today major insurers AAMI, Coles, Youi and APIA have “confusing, unfair or unclear ‘fire’ definitions” in their home and contents policies, which can be relied on to deny claims.
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