IAG company future?, page-16

Natural disasters shouldn't impact IAG too much, since they have reinsurance arrangements. The only time when its an issue is when they essentially don't buy enough insurance against such events, but I think they're pretty well covered considering how much re-insurance expense has gone up by recently.

I still think IAG is a solid hold. It's a cash generative, dividend paying business with a decent "moat". A large portion of its customers are very sticky, having been with them for years, or decades even. These customers can't be taken away by other insurers. Reliable cash generators (notwithstanding the unexpected Corona speedbump) are very valuable, especially so when cash at bank is earning effectively nothing IMO.