The Australian Reinsurance Pool Corporation (ARPC) has partnered with the University of Queensland to conduct a three-year research program focused on cyclone resilience.
ARPC highlighted that the initiative is part of its broader commitment to advancing thought leadership in insurance risk management.
The program aims to explore how insurance risk pooling can enhance resilience to cyclones at both individual and community levels. The findings will support efforts to improve outcomes associated with the cyclone reinsurance pool.
During the first 12 months, the research will review how insurance risk pooling impacts resilience in peer countries. This analysis will help shape the in-field research scheduled for the subsequent two years.
ARPC chief executive Dr Christopher Wallace (pictured above) said the collaboration combines industry and academic expertise to address cyclone-related challenges.
“By combining our industry knowledge with the University of Queensland’s academic expertise, we aim to explore important factors in cyclone resilience to better protect vulnerable regions and to support cyclone and related flooding disaster risk mitigation,” Wallace said.
The first research paper is expected to be published by the end of 2025.
In October, the Cyclone Reinsurance Pool, managed by the ARPC, reached almost 99% coverage of the eligible insured population in northern Australia, based on sum insured or premium, according to the latest data.
This achievement was announced in the Cyclone Reinsurance Pool Premium & Exposure Statistics Report, which highlights the pool’s progress since it was established on July 1, 2022, under the amended Terrorism and Cyclone Insurance Act 2003.
While the cyclone pool operates nationwide, its focus is on supporting cyclone-prone regions by providing reinsurance to insurers active in these high-risk areas.
The ARPC also recently released its annual report for the 2023-24 financial year, showing solid financial and operational performance.
ARPC reported US$1.1 billion in gross written premiums, with an operating result of US$710.1 million. Total net assets under management reached US$1.67 billion.
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