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Circular No 07/12

Home » Circulars » 2007 » 07/12

General PHIAC Circulars

Circular No 07/12

Contact Officers:
Paul Collins (02) 6215 7955
email: paul.collins@phiac.gov.au

Replaces Circular: NA

13 April 2007

PDF Format:

Circ 07/12

ADVICE OF REINSURANCE FLUCTUATION FOR MARCH 2007

Previous Circulars (06/14 of 30 October 2006 and 07/02 of 9 January 2007) advised that markedly lower claims would be reported by MBF Australia in the September and December 2006 quarters.

MBF Australia has advised PHIAC that they have cleared the backlog of claims and will be reporting markedly higher claims for the March quarter 2007. It is anticipated that MBF Australia will receive significantly higher payment from the Reinsurance pool for the March 2007 quarter. Insurers should take this fluctuation into account in regard to estimating their own payments to, or receipts from, the Reinsurance pool.