I am concerned after my bad experience with AGL. Is IAG going too woke? Reading today's announcement, the business seems an after thought for the Board. I am concerned that this may be a burden on the staff trying to run the business. The Board members with industry experience are outnumbered, by bankers, finance people and directors with multiple board positions, or governance experts. Have any Board members been CEO's of an insurance company? The CEO is in a tough position. They need balance between the Governance / ESG which is important, and the operating business in my view. Their announcements are a big Governance tick fest with limited focus on the business, it is out of balance and will tie up the executives with paper shuffling - the CEO probably speaks for less than an hour in a 2 day Board meeting is my guess, based on their recent announcements.
They also are not insuring some energy companies, should this be led by IAG or the Government? Why do IAG think they should be involved in determining energy policy, it is a complex transition period to renewables. Is this their place?
I am holding the shares as I think insurance is a great inflation hedge, as they earn interest on the prepaid premiums. IAG has the best insurance track record, in my view. Interested in your thoughts, I am ahead, however what are your thoughts on holding on, I have only held them for a year.
Is is frustrating me, where to invest, I should probably ring a broker.
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