News: IAG Insurance Australia Group Posts FY GWP Of $12,005 Mln

Aug 8 (Reuters) - Insurance Australia Group Ltd (IAG) :

• FY REVENUE FROM ORDINARY ACTIVITIES $17,658 MILLION VERSUS $16,411 MILLION
• FY NET PROFIT AFTER TAX FROM CONTINUING OPERATIONS ATTRIBUTABLE $ 871 MILLION VERSUS $947 MILLION
• IAG'S GWP GROWTH GUIDANCE FOR 2020 FINANCIAL YEAR IS 'LOW SINGLE DIGIT'
• FINAL DIVIDEND PER SHARE DECLARED 20.0 CENTS
• 2020 FINANCIAL YEAR REPORTED INSURANCE MARGIN GUIDANCE RANGE IS 16-18%
• FY TOTAL GWP OF $12,005 MILLION VERSUS $11,647 MILLION IN 2018
• AMOUNT BY WHICH EXPENDITURE EXCEEDS REVENUE IS EXPECTED TO EXPAND IN 2020 FINANCIAL YEAR
• EXPENDITURE EXCEEDING REVENUE IN 2020 TO RESULT IN INCREASED PRE-TAX LOSS IN FEE INCOME LINE, OF UP TO $50 MILLION
• IN ADVANCED DISCUSSIONS WITH A NUMBER OF BIDDERS REGARDING SALE OF ALL OR PART OF ITS 26% INTEREST IN SBI GENERAL IN INDIA