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Insurance News from Income Insurance NZ
Income Insurance NZ is pleased to present the latest financial news headlines.
To read an entire news item, simply click on the headline.
News items on this page are prepared by our editorial team as summaries of publicly available news reports and official announcements. See linked news sources where available. The following news items are for informational purposes only and are not independent journalism.
Insurance News
Allianz Announces Further Reductions in Broker Commissions for Home and Landlord Insurance
14 May 2026: Paige Estritori
Allianz has announced a further reduction in broker commissions for its home and landlord insurance products, aiming to maintain the sustainability of its portfolio amidst increasing claims costs and heightened natural catastrophe activity. Effective from July 1, 2026, the maximum commission rate payable to brokers will decrease from 17.5% to 15%, with a subsequent reduction to 12.5% scheduled for July 1, 2027. - read more
Victorian Bushfires Set to Drive Up Insurance Premiums in High-Risk Regions
14 May 2026: Paige Estritori
Recent bushfires in Victoria have raised concerns about potential increases in insurance premiums, particularly in regions already grappling with affordability issues. The Insurance Council of Australia (ICA) has declared the fires a catastrophic event, with over 2,600 claims filed, nearly half of which pertain to commercial properties, including farms. - read more
Global Insurance Rates Decline Despite Rising Catastrophe Losses
14 May 2026: Paige Estritori
The global insurance market is experiencing a paradoxical trend: despite a significant rise in catastrophe losses, insurance rates are declining, creating a favorable environment for buyers. In 2025, global insured catastrophe losses exceeded US$100 billion for the sixth consecutive year, yet the market has remained 'soft' into the first half of 2026. - read more
Resilience in Australia's Non-Life Insurance Sector Amidst Volatile Risks
13 May 2026: Paige Estritori
Australia's non-life insurance industry has demonstrated remarkable resilience in the face of an increasingly complex and interconnected risk landscape. According to a recent report by AM Best, the sector achieved total insurance revenue of approximately AUD 77.7 billion for the fiscal year ending 30 June 2025. This performance underscores the industry's ability to navigate challenges and maintain robust growth. - read more
IAG Enhances Risk Management by Integrating RACQ Insurance into 2026 Reinsurance Program
13 May 2026: Paige Estritori
Insurance Australia Group (IAG) has successfully integrated RACQ Insurance (RACQI) into its 2026 catastrophe reinsurance program. This strategic move follows IAG's acquisition of RACQI on 1 September 2025 and represents a significant step in enhancing the company's risk management framework. - read moreThe information on this website is general in nature and does not take into account your objectives, financial situation, or needs. Consider seeking personal advice from a licensed adviser before acting on any information.
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Claim:
A formal request made by the policyholder to the insurance company for payment of a loss covered by the insurance policy.
A formal request made by the policyholder to the insurance company for payment of a loss covered by the insurance policy.