Is Patrick Snowball leaving?, page-7

No, I do not attribute these events to climate change. A 24 hour news cycle, more human population in built up coastal areas, higher density housing (this may in itself bring a greater probability of climate change due to urban heat, water table impacts etc) r IMHO more compelling. However, insurance companies will win, like Patrick said at the 2014 AGM, populations in flood prone areas like parts of Qld will either have to have the Gov't insure them through self insurance like the West Country in the UK or go without insurance because the quotes will just be sky high. In the end, big business esp. big insurance always win, they simply ratchet up prices. My pick of the Aussie insurers is IAG due to low natural catastrophe markets, personal lines margins holding up and growth out of India and other JVs. Then QBE (a turnaround story) and then SUN (the Qld base is a concern as geopolitical risk with the Brisbane floods, North Qld weather and overall Qld economic outlook affect next year profits, the life piece is a bit of a basketcase).