The Cyclone Reinsurance Pool Premium and Exposure Statistics Report
The cyclone pool operates Australia wide, but targets support to cyclone-prone areas and provides reinsurance for insurers operating in those areas.
Key findings from the report include that, as at 30 June 2024, the cyclone pool had:
- Reached about 99 per cent cover of eligible risks (in terms of sum insured or premium), with the remainder to join the pool by the end of 2024.
- Annual in-force cyclone pool premiums were approximately $520m for home policies, $52m for strata and $24m for small to medium enterprise (SME) policies.
- The total discount from mitigation measures applied to in-force home premiums as at 30 June 2024 is $6.0m.