IAG reiterates FY guidance
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Insurance Australia Group (IAG) has confirmed it is on track to meet its full-year 2014 guidance.
At the insurer's annual general meeting, chief executive officer Mike Wilkins said the group was set to deliver an insurance margin of 12.5% to 14.5% and gross written premium growth of five to seven per cent.
The group has recorded a solid underlying operating performance so far in the current financial year, he said.
The insurer has allowed $640 million for natural perils in the full year and has so far received around 660 claims for the New South Wales bushfires, forecasting a related net claims cost of around $65 million to $85 million.
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