IAG insurance australia group limited
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  1. FNN News
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    03/01/13
    10:21
    Post #: 11245515
    .


    Insurance Australia Group Limited (ASX:IAG) has announced details of its Group Catastrophe reinsurance program for the 2013 calendar year.



    The program’s protection cap has been raised to $5 billion from $4.7 billion last year.



    CFO Nick Hawkins says the overall cost of the program is in line with the assumptions incorporated into the insurer’s FY13 insurance margin guidance of 11% to 13%.



    Mr Hawkins says IAG’s reinsurance programme forms an integral part of the company’s approach to capital management.



    IAG achieved a net profit of $265 million in the 2012 financial year.


    IAG Price at posting: $4.71 Sentiment: None Disclosure: Held
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