IAG: Result 2015

Severe weather took a bite out of IAG's profits, but a new deal with Berkshire Hathaway is expect to improve margins.

A string of natural disasters in New Zealand and on Australia’s east coast earlier this year has caused Insurance Australia Group’s net profit to fall 41% to $728m. IAG, which owns brands such as NRMA and CGU, paid out more than $1bn in claims for storm damage.

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