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ARPC’s 2023-24 Annual Report

Australian Reinsurance Pool Corporation has published its Annual Report for the 2023-24 financial year.

As at 30 June 2024, 18 insurers had joined the cyclone pool, reinsuring 98 per cent of insured Home, close to 100 per cent of insured Strata and 87 per cent of insured Small-to-Medium Sized Enterprise properties.

ARPC had 225 insurer terrorism pool customers, with sums insured of approximately $4.4 trillion nation-wide for commercial property and business interruption.

The cyclone pool had $10.5 billion available for claims arising from a Declared Cyclone Event and paid $16.5 million in claims associated with five tropical cyclones events.

"I am pleased to report that ARPC’s terrorism pool continued to provide cost effective terrorism reinsurance in a hardening market while cyclone pool reinsurance premium rates were unchanged. The ARPC team is reaching full capacity and is now focused on efficiency and effectiveness.."

Dr Christopher Wallace, ARPC CEO

ARPC’s 2023-24 Strategic Priorities

  • Deliver reinsurance for eligible terrorism and cyclone losses

  • Engage and understand our stakeholders with a focus on insurer customers to improve community outcomes

  • Develop data on terrorism, cyclone, and insurance climate risk to support risk mitigation

  • Provide thought leadership to deliver risk insights

  • Be a high performing, inclusive, customer and risk focused culture

Terrorism pool dashboard

During the 2023-24 reporting period:

  • the terrorism pool protected more than 880,000 eligible property assets valued at $5.47 trillion sum insured Australia-wide
  • 225 (2023: 228) terrorism insurer customers paid $407 million (2023: $364 million) in terrorism reinsurance premiums, and
  • $80 million was paid as Tier A reinsurance premium rates for commercial property in major central business districts, while the bulk, $234 million of premiums, was paid as Tier B, for property in cities with a population of 100,000 or more.

Cyclone pool dashboard

As of 30 June 2024, the cyclone pool:

  • was close to full exposure – reinsuring 98 per cent of insured Home, close to 100 per cent of insured Strata and 87 per cent of insured Small-to-Medium Sized
    Enterprise (SME) properties expected to be covered
  • had 18 cyclone insurer customers, with six joining the pool in the reporting period
  • covered insurer customers that insured 3.10 million cyclone-exposed buildings between them (across residential home, strata and SMEs), the majority being residential properties
  • received $717 million in gross written premiums from insurers for cyclone reinsurance (2023: $160 million GWP)
  • from inception, incurred $155.05 million in claims with $16.5 million in claims paid to insurers for the current and previous season’s tropical cyclones.
ARPC’s 2023-24 Annual Report
ARPC's latest annual report summarises ongoing performance and development conversations and provides a record of past performance and expectations for work moving forward
Download 2023-24 Annual Report

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Gadigal Country
PO Box Q1432 Queen Victoria Building
NSW, 1230

P: 02 8223 6777

E: [email protected]

Australian Reinsurance Pool Corporation acknowledges the traditional owners and custodians of country throughout Australia and recognises their continuing connection to lands, waters, and communities. We pay our respect to Aboriginal and Torres Strait Islander peoples, their cultures and to Elders past and present.

ARPC offices are located on the land of the Gadigal people of the Eora Nation.

© 2024 Australian Reinsurance Pool Corporation. All rights reserved.
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Insurer customer logins to ARPC

Terrorism Insurer Portal (PACE)

PACE is ARPC’s new Terrorism Reinsurance Pool (terrorism pool) insurer customer portal, which allows terrorism pool insurer customers to lodge their company information in a secure and user-friendly environment.

Login to PACE
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Cyclone Insurer Portal (PACE)

PACE is ARPC’s Cyclone Reinsurance Pool (cyclone pool) insurer customer portal, which allows cyclone pool insurer customers to lodge their company information in a secure and user-friendly environment.

Login to PACE
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