Insurance Australia Group Limited (ASX:IAG)

Insurance Australia Group Limited (IAG) announced its financial results for the first half of FY26, reporting a net profit after tax of $505 million, a decrease from $778 million in the prior corresponding period. This outcome reflects the impact of severe weather events, particularly affecting the recently acquired RACQ Insurance, which accounted for a $174 million hit before full integration into IAG's reinsurance program. Despite this, IAG maintained a strong underlying insurance profit, up by 7.6%, and affirmed its reported margin guidance of 14% to 16%. The company declared an interim dividend of 12.0 cents per share and announced a $200 million on-market share buyback. IAG highlighted its focus on customer support, paying over $6 billion in claims, and enhancing climate resilience initiatives, including the NRMA Insurance Help Fund. The acquisition of RACQ Insurance expanded IAG's reach, with significant investments in technology and community programs to bolster resilience and customer service. Looking forward, IAG expects gross written premium growth and maintains its FY26 insurance profit guidance amid ongoing economic uncertainties.