While PERSONAL is the bulk of IAG's business in terms of GWP, COMMERCIAL is a very meaningful contributor.
On that note, any IAG shareholders interested in the outlook for commercial rates should try to get hold of a transcript of the most recent result presentation from insurance broker, Steadfast.
Steadfast's founder, and 20-year CEO has an understanding of the insurance industry like no other I've come across and he paints a bullish, stronger-for-a-lot-longer picture of the outlook for the insurance rate environment due to the structural forces at work in the general insurance, as well as reinsurance, sectors.
He obviously comes at it from the Commercial Insurance side, but presumably his comments also apply to Personal lines.
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IAG Price at posting:
$5.30 Sentiment: None Disclosure: Not Held
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