IAG lifts FY guidance on margins

Insurance margins to come in sharply higher on reduced natural disaster payouts.

Insurance Australia Group Ltd has lifted its full-year guidance on insurance margins sharply, after paying out less than expected for natural disasters.

The group said it expected to post an insurance margin of between 16.8% and 17.2% for the year to June, well above previous guidance of 12.5% to 14.5%.

Net earned premium for the year was expected to come in at about $8.3 billion.

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