In this episode of the Financial Services Online weekly insurance news update, we discuss current trends and events in Australia's insurance industry. We cover QBE Insurance Group's faced market struggles resulting in share falls and slowed premium rate growth despite a rise in gross written premiums and a substantial share buyback. We review the booming profits of 2024 driven by high insurance premiums due to a quiet year of disasters. The implications of rising premiums for businesses are explored, along with the evolving risks businesses face, including litigation, technology advances, supply chain disruption and catastrophic events. Additionally, we mention the Reserve Bank of Australia's decision to hold steady the official cash rate reflecting on the country's strong economic performance.

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