Last A$6.19 AUD
Change Today -0.11 / -1.75%
Volume 9.2M
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As of 2:10 AM 08/1/14 All times are local (Market data is delayed by at least 15 minutes).

insurance australia group (IAG) Snapshot

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07/31/14 - A$6.33
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insurance australia group (IAG) Details

Insurance Australia Group Limited is engaged in underwriting general insurance in Australia, New Zealand, and Asia. It offers personal and commercial insurance products, such as comprehensive motor, commercial motor, commercial property, construction and engineering, consumer credit, CTP, directors and officers', extended warranty, farm, crop, livestock, home and contents, insurance protection, marine, professional indemnity, public and product liability, and workers' compensation, as well as niche insurance, such as veteran, vintage and classic car, boat, caravan, and travel insurance products. The company’s products also comprise commercial liability, personal liability, rural and horticultural, fire, education, family and protection, retirement, healthcare, savings and investment, roadside assistance, and home protection insurance products. Insurance Australia Group Limited sells its products directly to customers under the NRMA, SGIO, SGIC, and RACV brands; and through insurance brokers, authorized representatives, and distribution partners under the CGU and the Swann insurance brands in Australia. It also sells its products directly to customers under the State and AMI insurance brands, as well as through brokers and agents under the NZI brand and corporate partners under third party brands in New Zealand; the Safety and NZI brands in Thailand; the AmAssurance and Kurnia brands in Malaysia; Bohai Insurance in China; SBI General in India; and AAA in Vietnam. The company was formerly known as NRMA Insurance Group Limited and changed its name to Insurance Australia Group Limited in 2002. Insurance Australia Group Limited was founded in 1925 and is based in Sydney, Australia.

Founded in 1925

insurance australia group (IAG) Top Compensated Officers

Chief Executive Officer, Managing Director an...
Total Annual Compensation: A$3.7M
Chief Financial Officer
Total Annual Compensation: A$1.6M
Chief Executive Officer of Personal Insurance
Total Annual Compensation: A$1.6M
Chief Executive of Commercial Insurance
Total Annual Compensation: A$1.6M
Chief Executive Officer of New Zealand Busine...
Total Annual Compensation: A$1.4M
Compensation as of Fiscal Year 2013.

insurance australia group (IAG) Key Developments

Insurance Australia Group Limited Revises Earnings Guidance for the Financial Year Ended 30 June 2014

Insurance Australia Group Limited revised earnings guidance for the financial year ended 30 June 2014. The company expects to report gross written premium (GWP) growth of approximately 3% for the fiscal year 2014. This compares to the 3-5% GWP growth guidance range presented on 23 January 2014, and reflects an ongoing relative absence of input cost pressures and associated need for premium rate increases. The company expects to report an insurance margin of between 18.0% and 18.3% for the financial year ended 30 June 2014, compared to previous guidance of 14.5-16.5%.

Insurance Australia Group Limited to Implement New Operating Model for its Australian Operations

Insurance Australia Group Limited (IAG) will implement a new operating model for its Australian operations to create a more customer-focused and efficient organization. The new model will comprise two customer-facing divisions ­ Personal Insurance and Commercial Insurance ­ supported by a new Enterprise Operations division. This will allow IAG to better leverage its scale and insurance expertise to deliver better outcomes for its customers, people and shareholders. From July 1, 2014, in Australia IAG will have three divisions: Personal Insurance to be led by Andy Cornish, currently Chief Executive of Australia Direct. This division will provide personal insurance products and will include the affinity and financial institution partnerships which are currently part of CGU; Commercial Insurance to be led by Peter Harmer, currently Chief Executive of CGU. This division will provide insurance to business customers and will include Retail Business Insurance (RBI) which is currently part of Australia Direct; and Enterprise Operations to be led by Alex Harrison, currently Chief Operating Officer for Australia Direct. This division will provide support services including information technology, people & culture and procurement & supply chain.

Insurance Australia Group Limited Announces Dividend for the Period Ended November 2, 2014, Payable on November 3, 2014

Insurance Australia Group Limited announced the dividend rate of the CPS for the semi-annual period ending 2 November 2014. The dividend payment of $2.3942 is expected to be fully franked and will be paid in respect of each CPS on 3 November 2014, with a record date of 24 October 2014.


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