More business, better margin and as you say better investment earnings all resulting in better divvy. Now to see the next 6 months and where guidance lands as they were under this time but market has been overestimating everything recently. Will be interesting to see with unemployment rise and economy theoretically slowing or stagnant if they can keep margin and premium as it is a once in a cycle rerate with insurance IMO as everyone had a expectation to pay more but now people will be discovering if they can afford increased premium going forward. Hope the usual premium discounting cycle and market share grabbing doesn't kill margins and they can hold share of market . At those margins some players who left market might be back to take some cream off the couple of incumbents.?"Feb 16 (Reuters) - Insurance Australia Group (IAG) on Friday said its half-year cash earnings nearly doubled due to higher premiums and volume growth in its Australia and New Zealand businesses and announced an A$200 million ($130.44 million)share buyback plan.
Australia's top general insurer posted cash earnings of A$415 million ($270.66 million), compared with A$223 million reported a year earlier. That missed LSEG estimate of A$423.2 million.
The Sydney-based insurer said it hiked insurance premium rates in response to increased frequency and severity of natural perils, inflation, and higher reinsurance costs.
Its gross written premiums (GWP) rose 12.5% to A$7.9 billion during the six months ending Dec. 31, while underlying insurance margin was at 13.7%, up from 8.5%.
IAG also declared an interim dividend of 10 Australian cents per share, compared with 6 Australian cents per share from a year earlier.
($1 = 1.5335 Australian dollars)"
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Last
$7.70 |
Change
-0.070(0.90%) |
Mkt cap ! $18.25B |
Open | High | Low | Value | Volume |
$7.78 | $7.78 | $7.66 | $25.27M | 3.278M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
2 | 20625 | $7.70 |
Sellers (Offers)
Price($) | Vol. | No. |
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$7.76 | 100 | 1 |
View Market Depth
No. | Vol. | Price($) |
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2 | 20625 | 7.700 |
3 | 14465 | 7.670 |
1 | 32727 | 7.660 |
6 | 47564 | 7.650 |
3 | 60945 | 7.640 |
Price($) | Vol. | No. |
---|---|---|
7.760 | 100 | 1 |
7.800 | 44864 | 12 |
7.810 | 6500 | 1 |
7.820 | 2620 | 3 |
7.850 | 2842 | 1 |
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