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0348 GMT â Australiaâs comparatively drier weather should help protect insurer profitability due to lower catastrophe costs, say Morgan Stanley analysts in a note. With rainfall in Australian capital cities at 10-year lows in the year to date, IAG and Suncorp are being set up to over-earn in FY 2024, MS says. At the same time, a new government reinsurance pool should protect insurers from Cyclone Jasper, and help them come in below their catastrophe budgets.
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>>> Read more: Financial Services Roundup: Market Talk
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>>> Read more: Financial Services Roundup: Market Talk
