IAG: Interim result 2015

Aggressive competition and a jump in natural disaster claims took a bite out of profits for this insurer.

Insurance Australia Group’s (IAG) share price has fallen 9% since it reported its interim result. The insurer’s net profit for the six months to December fell 10% to $579m due to intensifying competition and a jump in natural disaster claims.

Disaster claims of $421m exceeded the company’s expectations by $71m, mainly on account of $165m in claims following Brisbane’s November hail storm – the worst seen in 30 years.

{{content.question}}

SMS Code Sent…

Hi {{ user.FirstName }}

Looks like you've already taken a free trial

Please enter your payment details

We have sent you a code via SMS to {{user.DayPhone}}

please enter this code below to activate your membership

If you didn't receive SMS code please

Looks you are already a member. Please enter your password to proceed

Please untick this box when using a public or shared device


Verify your mobile number to unlock a FREE trial

Please sign up for full access

Updating information

Please wait ...

  • Mastercard
  • Visa

Related Articles