Nov 2 (Reuters) - Insurance Australia Group Ltd (IAG) :
- RECEIVED ABOUT 14,000 CLAIMS BY 4PM ON 1 NOVEMBER AND THIS IS EXPECTED TO RISE FURTHER OVER COMING DAYS
- INCREASED ITS EXPECTATION FOR FY22 NET NATURAL PERILS CLAIM COSTS TO A$1,045 MILLION
- REVISED FY22 EXPECTATION ALSO INCLUDES APPROXIMATELY A$510 MILLION FOR PERILS EVENTS FOR REMAINDER OF FINANCIAL YEAR
- NET COST FOR EVENT ANTICIPATED TO BE A$169 MILLION, MAX RETENTION FOR FIRST LOSS UNDER IAG'S CATASTROPHE PROGRAM
- LOWERED ITS FY22 REPORTED INSURANCE MARGIN GUIDANCE RANGE FROM 13.5 - 15.5% TO 10.0 - 12.0%
- ESTIMATES THAT A$270 MILLION DEDUCTIBLE ATTACHED TO FY22 AGGREGATE COVER HAS BEEN ERODED BY A$209 MILLION AS A RESULT OF RECENT WEATHER EVENTS
- REMAIN CONFIDENT IN IAG'S OPERATIONAL MOMENTUM IN FY22, AFTER STRONG START IN Q1
- A$280 MILLION INCREASE IN NET NATURAL PERILS CLAIM COSTS EQUATES TO ABOUT 360 BASIS POINTS AT REPORTED INSURANCE MARGIN LEVEL
Nov 2 (Reuters) - Insurance Australia Group Ltd (IAG) :...
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Last
$8.91 |
Change
-0.065(0.72%) |
Mkt cap ! $21.09B | |||
| Open | High | Low | Value | Volume |
| $9.00 | $9.03 | $8.90 | $3.048M | 340.4K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 32 | 7987 | $8.90 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $8.91 | 6853 | 27 |
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| Last trade - 11.08am 27/06/2025 (20 minute delay) ? |
| IAG (ASX) Chart |