Thu, 4th Jun 2026

This week's Insurance News Wrap covers a range of topics impacting the Australian insurance sector. Hostplus extended its partnership with MetLife Australia until 2028, aiming to improve their claims and underwriting services, which will potentially offer better premiums, favorable terms, and a personalized claims experience for Hostplus's members. New South Wales government introduced crucial strata law reforms earlier this week. Despite rising claims costs, industry leaders IAG and QBE are managing premium growth. Commercial insurance market trends indicate competition, expanded capacity, and stable reinsurance conditions in 2026. Post-COVID profits have improved for key players, leading to intensified price competition. Despite stable premiums in property insurance and the financial sector, the cybersecurity scene is seeing heightened costs due to an increase in cybercrime. Future market conditions hinge on geopolitical, energy, climate, and economic pressures. Stay informed with Financial Services Online.