1.Australia: US$1.89 bln paid out for CATs

Insurance payouts after the Queensland floods and Cyclone Yasi have reached A$1.86 billion (US$1.89 billion), says the Insurance Council of Australia (ICA) in a report in the Herald Sun.



2.Australia: Insurance market heats up with new entrant
 
Supermarket giant Woolworths has teamed up with Swiss Re, the second largest reinsurer in the world, and The Hollard Group, a leading international insurance provider, to offer first life and pet insurance policies, with home and car policies to follow later. The products will be sold through call centres and online only, not in-store.


3. Australia: IAG warns of premium hikes;

Suncorp sees little room for higher premiumsInsurance Australia Group, the largest car and home insurer Down Under, warns that pressure remains for a further hike in premiums following billions ofdollars in payouts in the wake of a string of major natural disasters over the past year.


Source: Asia Insurance Review Aug 2011