Dear Valued Clients, As 2024 draws to a close, we know many of you are gearing up for some well-deserved time off. Whether it's spending time with loved ones or simply taking time for yourself, this season is all about recharging, reflecting on the year gone by, and getting ready for what’s next.

The official cash rate (OCR) dropped 50 basis points to 4.25% 27 November, with the RBNZ's Monetary Policy Committee noting that “inflation expectations at all horizons are close to the target midpoint”. They added that "With significant spare productive capacity expected in the economy over the next 12 months, the Committee is confident that remaining inflation pressures will abate”.  Now is a good time to provide a final 2024 update with our views on the current state of the general insurance market alongside the broader economic backdrop as we start to plan for 2025.

Richard starts this week and with it an exciting opportunity for both Richard and aibGROUP clients. With over 20 years of commercial insurance market experience, Richard brings extensive knowledge and insight that will be invaluable to our clients.