ARPC publishes 2024-25 Annual Report
7 October 2025
Australian Reinsurance Pool Corporation (ARPC) has published its Annual Report for the 2024-25 financial year.
During the reporting period, ARPC wrote $1.1billion in gross written premiums and held a strong position on net assets of $772 million. Due to the large scale of Tropical Cyclone (TC) Alfred there was an operating deficit for the period of $891 million. ARPC currently remains in a strong financial position and is operating as the legislation intends.
“Over the past year, the terrorism and cyclone pools have effectively fulfilled their purpose, despite an above average season of tropical cyclone weather,” said Dr Christopher Wallace, ARPC Chief Executive.
ARPC declared five cyclone events during the 2024-25 cyclone season, including TC Alfred, the costliest event since the cyclone pool’s inception in July 2022. TC Alfred accounted for $53.7 million of the $130.7 million in claims paid by ARPC during the year, with an estimated ultimate claims cost of $1.86 billion for the event.
“TC Alfred was a pivotal moment for the cyclone pool, serving as a significant test of its resilience and operational effectiveness. The event demonstrated the pool’s preparedness and capacity to respond efficiently to significant weather events,” Dr Wallace added.
As of 31 December 2024, all eligible insurers had joined the cyclone pool, as mandated. The pool has led to improvements in the affordability and availability across high cyclone risk areas, as confirmed by ARPC’s 2025 Premium Assessment Report.
ARPC also has 231 terrorism reinsurance agreements in place (up from 225 in 2023-24), providing cover for commercial property and business interruption in the event of declared terrorism incidents.
“While the nature of terrorism risk continues to evolve – becoming more complex and less predictable – the terrorism pool remains well -positioned to respond to such events,” Dr Wallace said.
The Commonwealth Treasury has announced a statutory review of the Terrorism and Cyclone Insurance Act 2003 to assess the effectiveness of the current frameworks.
“We welcome the review and will continue to engage with insurers, reinsurers, industry bodies, and community organisations representing cyclone-affected communities to inform our work.” Dr Wallace said.
For media inquiries, please contact Alexander Drake, Head of Public Affairs and Communications on (02) 8223-6777 or [email protected].