IAG insurance australia group limited
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  1. FNN News
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    09/03/12
    11:36
    Post #: 9816107
    .


    Insurance Australia Group Limited (ASX:IAG) will axe 600 jobs from its Australian intermediated business, CGU.

     

    The insurer says a review of its operating systems would result in the jobs being slashed over the next three years.



    The cuts are expected to save $25 million pre-tax in the 2012 financial year – increasing to $65 million pre-tax by December 2015. 



    IAG’s net profit slipped in the last six months of 2011 to $167 million.


    IAG Price at posting: $3.24 Sentiment: None Disclosure: Held
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