LA fires stoke insurer unease as claims bill mounts

Emma RapaportCo-editor, Street Talk

Jan 10, 2025 – 5.43pm

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The wildfires tearing through Los Angeles underline the unpredictability of a warming planet, according to insurance analysts, translating to greater claims volatility and stoking expectations higher reinsurance costs will be passed through to policyholders in 2025.

Australia’s largest listed general insurers – IAG, Suncorp and QBE Insurance – had a banner year as earnings and share prices roared on the back of premium hikes and a mild season for natural disasters compared to the 2022 Southern Queensland and Northern NSW floods.

Emma Rapaport is a co-editor of the Street Talk column. Prior to that, she was a markets reporter at The Australian Financial Review.