IAG insurance australia group limited
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  1. FNN News
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    21/02/14
    11:00
    Post #: 12966683
    .


    Insurance Australia Group Limited (ASX:IAG) has improved its first half net profit by 39 per cent to $642 million and confirmed its forecast for full year gross written premium and insurance margin growth. 


     


    CEO and Managing Director Michael Wilkins says the result was helped by improved operating performances from each of its Australia and New Zealand businesses and higher profits from the group’s interests in Asia. 


     


    Over the first half the company’s insurance profit dipped to $758 million, representing an insurance margin of 17.5 per cent from 19 per cent the year before. 


     


    Looking ahead the insurance giant expects to deliver gross written premium growth of between 3 - 5 per cent and an insurance margin of between 14.5 - 16.5 per cent in the full 2014 financial year. 


     


    IAG has boosted its fully-franked interim dividend by 2 cents to 13 cents per share.

    IAG Price at posting: $5.62 Sentiment: None Disclosure: Held
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