The Cyclone Reinsurance Pool (cyclone pool) commenced operations on 1 July 2022, and insurers can now enter into a Reinsurance Agreement with ARPC.
Large insurers will have until 31 December 2023 to reinsure all eligible cyclone risk with ARPC. Small general insurers (insurers whose total gross written premiums for household insurance are less than $300 million for the financial year before 31 December 2022) will be required to transfer their portfolio to ARPC by 31 December 2024, however, all insurers can voluntarily join the pool from 1 July 2022.
As new insurer customers join the cyclone pool, they will be added to the Insurer Customer Listing below. We look forward to welcoming new insurer customers to the cyclone pool.