In 2026, Australian insurers are confronting significant challenges related to premium affordability. A recent survey by Gallagher Bassett highlights that 22% of local respondents identify premium affordability as their foremost concern. This issue is primarily driven by escalating claims costs, climate-related losses, and technological advancements in fraud, all of which are influencing pricing, underwriting, and capital allocation strategies. - read more
Despite facing an increasingly complex and interconnected risk landscape, Australia's non-life insurance industry has demonstrated remarkable resilience. According to a recent report by AM Best, the top 10 Australian non-life insurers reported a combined insurance revenue of nearly AUD 46 billion for the fiscal year ending 30 June 2025, marking an 11.1% increase from the previous year. - read more
In response to widespread industry concerns over substantial premium increases, the Australian Prudential Regulation Authority (APRA) has taken decisive action to freeze unjustified baseline premium hikes exceeding 25% in the commercial auto insurance sector. This emergency intervention aims to protect independent transport operators and logistics enterprises from immediate financial strain. - read more
Recent analyses reveal a paradox within Australia's insurance sector: despite escalating premiums, insurers are experiencing a downturn in profits. This trend is largely attributed to the financial repercussions of extreme weather events and the subsequent surge in claims costs. - read more
Apply now for your free Insurance assessment and price comparisons!
All quotes are provided free and without obligation. We respect your
privacy.
Knowledgebase
Whole Life Insurance: A type of life insurance that provides coverage for the insured's entire lifetime, with a savings component that builds cash value.