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Insurer IAG Announces 1st Half Results

  IAG has reported a 1H16 insurance profit of $610 million (1H15:$693 million) and an insurance margin of 14.9% (1H15:13.4%), representing a sound result despite challenging conditions in its core Australian and New Zealand commercial markets. Key financial indicators are: Insurance profit $610 million (1H15:$693 million) Reported insurance margin 14.9% (1H15:13.4%) Underlying insurance margin1 14.2% (1H15:13.3%) including a Berkshire Hathaway quota share positive effect of approximately 250 basis points (bps) Gross written premium (GWP) $5.5 billion (1H15:$5.6 billion) Net profit after tax $466 million (1H15:$579 million) Cash return on equity (ROE)

IAG announces changes

Insurance Australia Group (IAG) Managing Director and CEO, Mr Mike Wilkins, today announced changes to IAG’s executive team effective 31 March 2015. IAG Chief Executive Commercial Insurance, Mr Peter Harmer, will lead the Group’s digital strategy over 2015. Chief Commercial Officer for IAG’s Commercial Insurance business, Mr Ben Bessell, will step into Mr Harmer’s role as acting Chief Executive Commercial Insurance. Ms Leona Murphy will resume the role of Chief Strategy Officer while retaining her current responsibility for managing the program to move

Insurance Australia Group Claim Cost Rise

Insurance Australia Group (IAG) announced first half profits fell by 10.6 per cent to $144 million, with claims from natural disasters reaching $396 million. Chief executive Mike Wilkins said in a statement today “The first six months of the 2012 financial year have again been challenging for the insurance industry, with high net natural peril claim costs, including floods in Thailand and the severe Christmas Day storm in Melbourne, significantly increased reinsurance costs and volatile investment markets,”. IAG’s

Insurer IAG CEO announce three key priorities

In a speech to to the American Chamber of Commerce Mike Wilkins, Managing Director and CEO of IAG Insurance Group Australia described 2011 as one of the toughest years ever for insurers in Australia, punctuated by flooding, cyclones, earthquakes and bushfires. IAG’s businesses, which include NRMA Insurance, CGU, Swann, SGIO, SGIC and The Buzz, have this year injected hundreds of millions of dollars in gross payouts directly to

Insurer IAG seeks Government input

Weather specialists in Australia have predicted sever storms and cyclones this coming summer, giving insurance companies like Insurance Australia Group (IAG) a lot to worry about. CEO of insurance giant Insurance Australia Group, Mike Wilikins is calling on Governments, and other industry bodies to address the current levels of natural disaster and infrastructure protection. In addition to investing in

Have you put car hire on your insurance policy?

More than 75 per cent of South Australian families who drive rely heavily on their cars. Yet, surprisingly, only 25 per cent have insurance cover with car hire. This is according to a recent SGIC survey of SA families undertaken by Pure Profile Research in March 2011. Insurance provider SGIC offers Home Insurance, Car Insurance, Motorcycle Insurance, Travel Insurance, Business

Who is Insurance Australia Group Limited?

Insurance Australia Group Limited (IAG) is an international general insurance group which boasts operations in Australia, New Zealand, the United Kingdom and Asia. The company’s current businesses underwrite approximately $7.8 billion of premium per annum. IAG sells insurance under many leading brands including NRMA Insurance, CGU, SGIO, SGIC, Swann and The Buzz

IAG to drop Unworry

IAG are set to replace it’s “Unworry” campaign with  “Experience the difference” an Insurance Australia Group spokesman has told an online news site. The new campaign will be rolled out for IAG’s NRMA Insurance in New South Wales and Queensland, SGIC in South Australia and SGIO in Western Australia. Please note Quotesonline Insurance News is an information service provided by third parties Insure 247

NRMA Insurance appoints Mediacom

NRMA Insurance After 8 years with media company Carat, NRMA Insurance Australian has announced that  Mediacom will now handle the $40m media account. NRMA is a brand of Insurance Australia Group (IAG) the move will see Mediacom take over media planning and buying duties for NRMA Insurance in New South Wales, the Australian Capital Territory and Queensland. They will also manage the media business of SGIC in South Australia and SGIO in Western Australia.

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