Insurance Australia Group Limited Analysis

Overview

IAG has a portfolio of general insurance businesses with leading and established brands across its home markets of Australia and New Zealand, a growing presence in Asia, and other specialist underwriting operations.

Insurance Australia Group Limited (IAG) listed bonds on the NZDX on 15 December 2011.

Performance

The following information was extracted from Insurance Australia Group Limited's full year results, released 21 August 2024:

IAG today announced its 2024 full-year results, reporting a net profit after tax (NPAT) of $898m, up 7.9% on FY23. This increase was driven by an 11% rise in net earned premiums, an improvement in the insurance profit, and higher investment income on shareholder funds of $286m up 35% on the previous year.

The insurance profit of $1,438m was up 79.1% on FY23 and equated to a reported margin of 15.6% (FY23: 9.6%). The company’s natural perils costs of $983m, $115m below the $1098m allowance, positively impacted the insurance profit.