Reinsurers have agreed to drop the reinsurer of the year category from the annual Australian Insurance Industry Awards, recognising there are relatively few candidates each year.

The Australian and New Zealand Institute of Insurance and Finance has now opened nominations for the awards, with winners to be announced on August 20.

The 15 categories cover insurers, brokers, underwriting agencies and related providers, plus individuals honoured for their contribution to the industry.

The reinsurance category was retired after consultation with the industry, a spokesman told insuranceNEWS.com.au. Nominations close on April 14.