ARPC - Australian Reinsurance Pool Corporation

08/29/2024 | Press release | Distributed by Public on 08/28/2024 23:14

ARPC outlines priorities in 2024-28 Corporate Plan

ARPC outlines priorities in 2024-28 Corporate Plan

29 August 2024

Australian Reinsurance Pool Corporation (ARPC) has published its latest Corporate Plan which outlines how it will strengthen the efficiency and effectiveness of both the terrorism pool and the cyclone pool over the next four years.

The updated plan provides an overview of ARPC's operating environment, key priorities, activities and risks, capabilities, and how it will measure performance.

With the cyclone pool now covering most of the northern Australian market, ARPC priorities in the 2024-28 Corporate Plan are:

  • deliver sustainable reinsurance for eligible terrorism and cyclone events to enable insurers to deliver insurance coverage.
  • optimise the pools to enhance effectiveness and affordability.
  • build our data analytics and insights capability to support risk mitigation and enhance accessibility and affordability of insurance.
  • continue to build capability and a customer and risk-focused culture to drive ongoing improvements in performance.

ARPC CEO Dr Chris Wallace said the latest Corporate Plan and strategic priorities build on ARPC's vision to support insurers to deliver affordable terrorism and cyclone insurance in Australia.

"The past year was a pivotal period in ARPC's development as the Cyclone Reinsurance Pool worked to bring all large insurers onboard and is now fully operating as designed.

"While the overarching themes of our existing strategic priorities remain consistent, our updated Corporate Plan demonstrate how we are evolving and adapting to the changing needs of our operating environment.

"Over the coming four years, we will continue to invest in bolstering our internal capabilities and technology to help us deliver our legislative priorities. Our focus remains on ensuring the Australian communities we serve are more resilient to disasters through access to affordable insurance for terrorism and cyclone events," said Dr Wallace

Media enquiries

For media inquiries, please contact Alexander Drake, Head of Public Affairs and Communications on (02) 8223-6777 or [email protected].