News: IAG Insurance Australia Group Sees FY24 GWP Growth Of ‘Low Double Digits’

Feb 16 (Reuters) - Insurance Australia Group Ltd (IAG) :

• INSURANCE AUSTRALIA GROUP SEES FY24 GWP GROWTH OF ‘LOW DOUBLE DIGITS’
• INSURANCE AUSTRALIA GROUP SEES FY24 REPORTED INSURANCE MARGIN OF 13.5% TO 15.5%
• INSURANCE AUSTRALIA GROUP SEES IIA INSURANCE PROFIT OF AT LEAST A$250M IN FY24
• FY23 GROSS WRITTEN PREMIUM A$14,729 MILLION
• FY23 NET EARNED PREMIUM A$8,326 MILLION
• FY24 GUIDANCE ALIGNS TO IAG’S ASPIRATIONAL GOALS TO DELIVER 15% INSURANCE MARGIN, REPORTED RETURN ON EQUITY 13% TO 14%
• FY24 GUIDANCE ALIGNS TO IAG’S ASPIRATIONAL GOALS TO DELIVER A 15% INSURANCE MARGIN
• CONTINUE TO SEE NATURAL PERILS IMPACTING OUR COMMUNITIES
• ON TRACK TO DELIVER FY24 GUIDANCEWE OUTLINED AT BEGINNING OF FY
• FY24 GUIDANCE ALIGNS TO GOALS TO DELIVER REPORTED RETURN ON EQUITY (ROE)OF 13% TO 14% ON A ‘THROUGH THE CYCLE’ BASIS
• INSURANCE AUSTRALIA GROUP LTD SEES FY24 PERILS ALLOWANCE OF UP TO A$1,098M
• INSURANCE AUSTRALIA GROUP LTD SEES STRONG INVESTMENT INCOME IN FY24
• WE’VE ANNOUNCED AN ON-MARKET SHARE BUYBACKOF UP TO A$200M