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Speaker 1: International Correspondence with Ends and Eye Insurance Peace of mind

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Speaker 1: for New Zealand business OLLI Peters's with a six pr

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Speaker 1: per F Live presents a OI good afternoon, Good afternoon, Ryan.

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Speaker 1: So Peter doesn't says he'll break up the big insurance companies,

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Speaker 1: but then his deputy is kind of walking it back.

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Speaker 2: Well, they haven't quite made up their minds yet. Of

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Speaker 2: course he's in a coalition arrangement. So whatever the Liberal

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Speaker 2: Party says, the Nationals don't have to agree to, and

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Speaker 2: whatever the Nationals say that Libs don't have to agree

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Speaker 2: to until they're once again in government. But look, you

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Speaker 2: know I don't mind this shot across the bow that

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Speaker 2: Peter Duarton sitting insurance. I'll give you an example. On Friday,

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Speaker 2: IAG recorded a half year profit here in Australia of

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Speaker 2: seven hundred and seventy eight million dollars Ryan. That's an

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Speaker 2: increase of ninety one percent compared to the same time

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Speaker 2: last year. The CEO himself gave himself a seventy eight

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Speaker 2: percent pay rise in that year. It's almost as much

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Speaker 2: as people's insurance premiums are going up and we get

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Speaker 2: in undated with feedback here on ourtook back lines just

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Speaker 2: about the sky rocketing high to insurance premiums, whether that

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Speaker 2: be motor vehicle, home and contents, insurance, health insurance, it

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Speaker 2: is starting to become unaffordable. So I think asking those

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Speaker 2: questions of the insurers and lots of people give us

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Speaker 2: the examples that they might be able to go and

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Speaker 2: reinsure their car with a different player and they can

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Speaker 2: get fifty percent savings. Explain it to us like you're

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Speaker 2: if you're recording a half year profit of a ninety

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Speaker 2: one percent increase, yere on you. And we understand there

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Speaker 2: are more natural disasters. We understand the reinsurance of insurance

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Speaker 2: with fires in Los Angeles, for example, is affecting the

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Speaker 2: Australian market. But some of these hikes that Australians are

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Speaker 2: experiencing on an annual basis to their insurance premiums, they

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Speaker 2: just don't seem.

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Speaker 1: To add up. Yeah, well, we have the same story

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Speaker 1: over here at the side of the testament. I can

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Speaker 1: assure you with our insurance companies making a good coin.

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Speaker 1: But as you say, weather events in previous years risk

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Speaker 1: going forward, all that kind of stuff. But hey, it's

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Speaker 1: good politics, isn't it good? Politicis from Peter Dunton. Our

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Speaker 1: labor ministers, on the other hand, are ignoring the Treasurer's

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Speaker 1: instructions to just leave the Reserve Bank alone.

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Speaker 2: Please. Oh, they are going as hard as they can

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Speaker 2: because Michelle Bullock has started that two day meeting and

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Speaker 2: we'll get in an announcement by this time tomorrow, Ryan

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Speaker 2: whether or not the interest rates will fall. Four point

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Speaker 2: three five percent is the cash rate in Australia at

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Speaker 2: the moment. I think every single economist is hedging their

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Speaker 2: bits that there will be a quarter of a percent

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Speaker 2: cut tomorrow. I'm not so certain, and not that I

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Speaker 2: know more than an economist, but you just go through

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Speaker 2: and I was reading all of her notes from her

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Speaker 2: last board meeting. There is nothing where she mentions that

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Speaker 2: she's even contemplating cutting rates. And I just think she

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Speaker 2: might hold tomorrow because of the fact that we're almost

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Speaker 2: in a federal election cycle. She might just wait till

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Speaker 2: the next board meeting, which is only a few weeks away.

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Speaker 2: Having said that, you have got every single labor MP

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Speaker 2: under the sun coming out like Sam Ray, I want

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Speaker 2: to cut. My community needs a cut. My job is

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Speaker 2: to stand up to the community.

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Speaker 1: We need to.

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Speaker 2: Cut they straight and deserve our thanks and praise. As

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Speaker 2: the Assistant Immigration Minister, Matt this will wait, Tanya plebus

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Speaker 2: X says, any of us who've got a bore which

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Speaker 2: would like a cut, that's for sure. And as you say,

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Speaker 2: Jim Chalmers, the Treasurer has told all of his fellow

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Speaker 2: labor politicians just don't talk about it, just don't mention it.

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Speaker 2: It's not our job. They're independent of us, and they

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Speaker 2: just ignored his advice. They've just gone out there to

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Speaker 2: fly to I mean this is great political grandstanding as well,

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Speaker 2: isn't it, Because if they cut tomorrow, then all these

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Speaker 2: pollisi's take the credit for it.

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Speaker 1: Absolutely. Hey, record number of people traveling to Melbourne? How many?

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Speaker 1: Because we just had numbers. One point four million dollarzi

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Speaker 1: is came to New Zealand last year, So how many

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Speaker 1: of you are going to Melbourne?

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Speaker 2: Well, just in January alone, three million international visitors who

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Speaker 2: decided to descend on Melbourne. I don't think it's just

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Speaker 2: three million international businits that obviously includes domestic I should say,

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Speaker 2: but you I think January Melbourne is pretty good time

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Speaker 2: a year Australian open He's obviously on you've also got

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Speaker 2: the Chinese New Year. The Victoria's Lunar New Year celebrations

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Speaker 2: are huge, and they've just recently announced more direct services

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Speaker 2: to the United States. I think there's three flights a

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Speaker 2: week these days on Delta Airways between Melbourne and the US,

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Speaker 2: so they're obviously. I'm very happy to see three the

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Speaker 2: three million mark past in January, and well maybe I'll

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Speaker 2: add to the what you say, one point four million

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Speaker 2: Australians came to New Zealand last year. I might add

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Speaker 2: to that tally sooner rather than later on and hit

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Speaker 2: your wife.

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Speaker 1: That's interesting. So is that three million for the year

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Speaker 1: to January going to Melbourne?

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Speaker 2: It is was the place with more than three million

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Speaker 2: passengers welcome through airport terminals in January.

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Speaker 1: In January, just in January.

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Speaker 2: Yes, goodness, may well we are people, isn't it.

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Speaker 1: Well, well, this certainly is when you consider we had

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Speaker 1: three point three million for the entire year to December

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Speaker 1: here in New Zealand. Thank you very much, OLLI great

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Speaker 1: to have you on as always, Oli Peterson six PR

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