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AAP

Callum Godde

Insurer profits boom to $6.1b after steep premium hikes

Insurance company profits have boomed after fewer significant weather events in 2024. (Dean Lewins/AAP PHOTOS)

Premium hikes, benign weather and surging investment markets have lifted profits for insurers but the business boom could be short-lived.

Australia's insurance industry recorded an annual after-tax profit of $6.1 billion in 2024, according to financial consultancy firm KPMG's annual review of the sector.

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One subscription that gives you access to news from hundreds of sites

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