IAG confirms profit guidance

Insurance Australia Group (IAG) has announced its insurance margin for the year ending 30 June will fall between 18.0% and 18.3% – significantly higher than its previous guidance of 14.5-16.5%. That's a remarkable achievement given last year's impressive margin of 17.2% seemed unsustainable. While it reflects excellent management and temporary factors such as a benign claims environment, it also shows the industry oligopoly of IAG, Suncorp and QBE Insurance.  Net earned premium (the industry measure for revenue) is expected to be around $8.6bn and gross written premium should increase about 3%, which is at the lower end of previous...

Insurance Australia Group (IAG) has announced its insurance margin for the year ending 30 June will fall between 18.0% and 18.3% – significantly higher than its previous guidance of 14.5-16.5%. That's a remarkable achievement given last year's impressive margin of 17.2% seemed unsustainable. While it reflects excellent management and temporary factors such as a benign claims environment, it also shows the industry oligopoly of IAG, Suncorp and QBE Insurance

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