Allianz has again reduced broker commissions for home and landlord products, saying the changes are needed to keep the portfolio sustainable.

The maximum rate payable will be cut to 15% next financial year from 17.5% at present.

“The home and landlord portfolio has been impacted by ongoing factors including increased natural catastrophe activity and severity, increasing claims costs and prolonged high inflation,” an Allianz spokesperson told insuranceNEWS.com.au.

“As a result of our most recent review and to ensure the ongoing sustainability of this portfolio, Allianz will be making changes to commission rates across all home and landlord products from July 1 2026.”

The insurer has informed intermediary partners of the changes. And in updates to brokers, Allianz says the commission rate will be further reduced to 12.5% from July 1 2027.

The spokesperson said: “We recognise the important role brokers play in providing advocacy and advice to customers, ensuring they receive the most suitable insurance solutions, and we are committed to supporting our broker partners in finding these solutions.

“We are making enhancements to our product coverage, technology capability, underwriting and claims processes that will support brokers with home and landlord insurance customers.”

Allianz last cut broker commissions for home and landlord in May last year, when they moved to 17.5% from 22.5%.

This week's announcement follows similar moves by other insurers including CGU and Hollard.