Insurance Australia Group

Insurance Australia Group (IAG) has announced that its insurance margin for the financial year ending 30 June 2013 will fall between 16.8% and 17.2%, well above previous guidance of 12.5-14.5%, which itself was a significant improvement from the previous year’s results. Fewer natural disasters meant claims were $150m less than expected, reserve releases were 2.5% of net earned premium compared to earlier estimates of 1-2% due to ‘favourable experience in long tail classes in a low inflation environment’ and the more positive global economic outlook produced a $20m gain as higher prices for riskier fixed income securities tightened credit...

Insurance Australia Group (IAG) has announced that its insurance margin for the financial year ending 30 June 2013 will fall between 16.8% and 17.2%, well above previous guidance of 12.5-14.5%, which itself was a significant improvement from the previous year’s results.

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