Insurance Australia Group Limited Analysis

Overview

IAG has a portfolio of general insurance businesses with leading and established brands across its home markets of Australia and New Zealand, a growing presence in Asia, and other specialist underwriting operations.

Insurance Australia Group Limited (IAG) listed bonds on the NZDX on 15 December 2011.

Performance

The following information was extracted from Insurance Australia Group Limited's full year results, released 21 August 2024:

IAG today announced its 2024 full-year results, reporting a net profit after tax (NPAT) of $898m, up 7.9% on FY23. This increase was driven by an 11% rise in net earned premiums, an improvement in the insurance profit, and higher investment income on shareholder funds of $286m up 35% on the previous year.

The insurance profit of $1,438m was up 79.1% on FY23 and equated to a reported margin of 15.6% (FY23: 9.6%). The company’s natural perils costs of $983m, $115m below the $1098m allowance, positively impacted the insurance profit.

In any given GDT Event the GDT website may display a range of results other than price, as explained:

' – ' means that the product was not offered.
‘n.s.’ (not sold) means that no product was sold.
‘n.p.’ (not published) means that product was sold at the starting price, and therefore GDT cannot publish the winning price. For an explanation of this rule, see question 9 in the "Common questions" page under "About GDT" at www.globaldairytrade.info
'n.a.' for the Average Winning Price means that no prices were available for that contract period (for the reasons above), and therefore no average price was applicable.

For clarification where GDT publishes ' – ' or ‘n.s.’ (not sold) NZX results will also display a '-' or 'n.s'.

Where the GDT website displays ‘n.p.’ (not published), NZX will display the starting price. Note that the NZX results page will not differentiate between prices that are equal to starting price or those that have exceeded starting prices.

'n.a.' for the Average Winning Price as displayed on the GDT website are not displayed on this results page.

Note that N/A in the table below means there has been no change between current and previous price.