Tag: IAG

Insurance Australia Group (IAG) shares were marked down yesterday after a somewhat unconvincing year to June.

Insurance Australia Group (IAG) is the biggest general insurer in Australia and across the Tasman where it slipped out news yesterday of a change in the way it will be insuring home and contents that will see thousands of policyholders pay more if they live in areas of the country that are more prone to natural disasters such as quakes and floods.

Shareholders in Insurance Australia Group, Australia’s biggest general insurer will feel the pain of the weaker half-year result (courtesy of Sydney’s December hail storm) with a 2 cents a share cut to the interim dividend.

Insurance Australia Group shares were sold off yesterday after the company revealed a softer outlook and news that its dividends will not longer be full franked in a year’s time.

Nine months ago Insurance Australia Group said it would be reviewing its Asian operations with a view to perhaps selling them.

Warren Buffett had better hope that Insurance Australia Group, the country’s biggest general insurer (or property and casualty in US parlance) runs a tight underwriting and insurance book ship, maintains standards and doesn’t not veer off into a mad price war. Upwards of 40% of one of Buffett’s key reinsurance companies is now flowing each year from a deal with IAG that helps underpin the financial viability of both companies.

Insurance Australia Group (IAG) has lifted interim dividend after a sharp improvement in its insurance margin and interim earnings.

In late June, Insurance Australian group shares jumped to an equal all time high of $6.97 after a confident earnings upgrade for the financial year that was about to end on June 30.

Usually its hard not to be a bit cynical about insurance companies and the many ways they have to produce results. So when Insurance Australia Group (IAG) revealed yesterday that its reserves releases for the year to June will be larger than expected, the first reaction was hmmmm.

Insurance Australia Group (IAG) says it’s 2016-17 results will see a $170 million hit to pre-tax profit, thanks to the impact of Cyclone Debbie’s winds, rain storms and extensive flooding in Queensland and Northern NSW.

Thanks to its cosy reinsurance deal with Warren Buffet’s Berkshire Hathaway reinsurance arm, Insurance Australia Group (IAG) is now more like a utility rather than a general insurer with a more volatile claims and earnings pattern thanks to global warming, climate change and the rise of extreme weather events.

Insurer IAG has revealed plans to cut about $250 million in operational costs over the next three years as part of its latest strategic plan. That’s a 10% cut in costs planned by the company, with the consolidation of a multiplicity of online platforms to three.

Insurer, IAG has revealed modest expectations for 2016-17 with anticipated small gains for its home and car insurance offerings expected to be held back by rising costs in the NSW compulsory third party sector and a difficult commercial insurance market (both of which proved a headache for rival QBE).

Shareholders in Insurance Australia Group (IAG) were left a little stunned yesterday – the expected weak half year result, a disappointing full year outlook – and yet a special dividend, courtesy of the deal last year with Warren Buffett.

Insurance Australia Group (IAG) surprised yesterday with news of a changing of the guard at the top of the company with a new CEO named.

Shares in Insurance Australia Group (IAG) got a fillip yesterday from the surprise $500 million link up with Warren Buffett’s Berkshire Hathaway insurance group.

Insurance Australia Group (IAG) has warned claims relating to last week’s storms that struck eastern Australia will sharply lift its costs for the financial year and weigh on its insurance margin for the year to June.

The 2014-15 financial year is turning out to be a year of consolidation and some strain for Insurance Australia Group (IAG) as it swallows the $1.8 billion plus insurance operations of Wesfarmers (WES) and has to deal with intensifying pressure for customers and premiums.

Shares in insurer IAG ended higher yesterday after the annual meeting was reassured the company is on track to meet guidance for the 2014-15 financial year.

As forecast by the company, Insurance Australia Group (IAG) has ridden the lack of any major weather-related claims to report a 59% rise in profits to $1.23 billion for the year to June. 

Insurance Australia Group (IAG) confirmed yesterday that the warm dry weather across much of the East Coast and the absence of any large natural disasters (earthquakes, cyclones and storms floods) would generate record earnings for the year to June.

As expected, Insurance Australia Group Limited (IAG) has joined the ever growing ranks of companies large and small boosting dividend payouts to shareholders.

There’s nothing like a mild spring and summer (so far) to improve the earnings outlook for an Australian insurer. No floods, few storms, but some nasty loss-generating fires, the absence of major quakes in New Zealand and Asia and good weather (which means fewer car crashes), and so it is with Insurance Australia Group (IAG).

Insurance Australia Group (IAG) is on track to top 2012-13’s solid result, if comments at yesterday’s annual meeting by CEO Mike Wilkins are any indication.

Shareholders in Insurance Australia Group can expect a sharply higher final dividend payment in August after the company revealed yesterday that it is looking at a cracker of a full year result.

Some good news for shareholders at yesterday’s AGM of Insurance Australia Group (IAG): the company says it is on track to deliver on its full year financial guidance after an encouraging performance in the first quarter.

Not the best way to start an investor day briefing for Insurance Australia management with news of another round of earthquakes and damage from Christchurch headlining news broadcasts and at the forefront of investor’s thinking.

If you had to pick one result from the 2,000 or so interims and finals we are seeing at the moment that best illustrates the vagaries of modern business life, but also how companies of all sizes have to guard against sudden, unexpected events, then Insurance Australia Group is the one.

Bad weather and the continued drag of the unwanted insurance business in Britain have combined to hurt Insurance Australia Group’s interim profit more than the impact of Australia’s spate of floods in late 2010.

It’s not just the Commonwealth Bank where the amount paid to the CEO and senior managers in 2009-10 has raised eyebrows; faltering insurer, Insurance Group Australia found reasons to pay its senior managers more in the year to June, despite suffering a big fall in earnings and more losses on the unfortunate UK play.

Like Suncorp in 2009, Insurance Australia Group will have to dip into reserves to pay its full-year dividend after the insurer yesterday confirmed a July earnings downgrade and reported a miserable profit.

The chances of QBE buying rival Australian general insurer, Insurance Australia Group continue to fade.

There are some nasty profit downgrades emerging that call into question valuations on the Australian stockmarket and the efforts of various analysts who follow these companies.

You will no doubt read a lot of guff about how QBE should have really moved last year to snap up Insurance Australia Group when the latter was vulnerable and changing CEOs and strategy.