Increases to reinsurance costs aren’t specific to AA Insurance. Recently, increasing reinsurance costs have impacted premiums across the insurance industry. This has been influenced by recent extreme weather and natural hazard events. As a result of these events, reinsurers are changing how they view New Zealand and the costs being charged to insurers, which means reinsurance costs have increased significantly.
Are AA Insurance the only ones impacted by a change in reinsurance costs or is this an industry wide change?
This provides general information only and is not intended to be a recommendation or personalised financial advice. Excesses, terms, conditions, limits and exclusions apply to AA Insurance Limited’s policies. Please check the policy wording and your schedule for details of cover. The provision of cover is subject to the underwriting criteria that apply at the time.
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