IAG finalises its FY22 aggregate reinsurance cover

IAG transitioned its aggregate cover from a calendar to financial year basis in 2020. The structure of IAG’s main catastrophe reinsurance program for the 2021 calendar year, which renewed on 1 January 2021, remains unchanged.

The FY22 aggregate cover provides protection of $350 million in excess of $400 million, with individual qualifying events capped at $200 million in excess of $50 million per event. The cover has been placed to the extent of 67.5% to eflect IAG’s cumulative whole-of-account quota share arrangements.