Insurance Australia Group (ASX:IAG) placed its 2025 catastrophe reinsurance program, according to a Tuesday filing with the Australian bourse.
The 2025 catastrophe reinsurance program provides a main catastrophe cover for two events up to AU$10 billion with an attachment at AU$500 million in addition to the insurer's whole-of-account quota share arrangements.
The firm's reinsurance cover also includes long-term natural perils volatility protection, which in combination with the whole-of-account quota share arrangements provides about AU$1 billion in additional protection annually from fiscal year 2025 to fiscal year 2029 and up to AU$4 billion over the entire five-year period for natural peril event costs under AU$500 million, the filing said.
The company's shares shed over 1% in recent Tuesday trade.
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