News: IAG Insurance Australia Group Declares Interim Dividend Of 6 AU Cents Per Share

Feb 11 (Reuters) - Insurance Australia Group Ltd (IAG) :

• DECLARES INTERIM DIVIDEND OF 6.0 AU CENTS PER SHARE
• HY REVENUE FROM ORDINARY ACTIVITIES A$9,233 MILLION VERSUS A$9,659 MILLION
• HY NET PROFIT ATTRIBUTABLE A$173 MILLION VERSUS LOSS OF A$460 MILLION
• HY CASH EARNINGS A$176 MILLION
• SEES GWP GUIDANCE FOR 'MID SINGLE-DIGIT' GROWTH FOR 2022 FINANCIAL YEAR
• HY REPORTED INSURANCE MARGIN OF 7.1%
• HY TOTAL GROSS WRITTEN PREMIUM OF A$6,570 MILLION
• REAFFIRMING 2022 REPORTED INSURANCE MARGIN GUIDANCE OF 10% TO 12%
• AT GROUP LEVEL, UNDERLYING NET COVID-19 CLAIMS BENEFITS WERE A$75 MILLION TO A$85 MILLION IN CURRENT HALF YEAR
• SEES ABOUT A$100 MILLION GWP REDUCTION IN H2 2022 FROM EXIT OF IAL PERSONAL LINES
• EXPECTS SIMILAR PRE-TAX LOSS FROM FEE-BASED BUSINESS IN H2 OF 2022, TO WHAT WAS REPORTED IN H1
• ASPIRATIONAL GOAL TO ACHIEVE A 15% TO 17% INSURANCE MARGIN OVER MEDIUM TERM