Tag: IAG

Insurance Australia Group is still rejecting the $8.0 billion proposed takeover "offer" from QBE Insurance, despite being downgraded by Standard & Poor’s.

Shares in Insurance Australia Group (IAG) fell as much as 8% after the company reported a disappointing 68% fall in its half year net profit due to higher storm costs among other factors.

Insurance Australia Group (IAG) has cut its 2008 financial year margin forecast to 9-11% from 11-13% as a result of more than 21,000 claims lodged with the insurer since the hail storm that hit NSW on 7 and 9 December.

Insurance Australia Group (IAG) has employed Duncan West as chief executive officer of its CGU Insurance division from late January 2008.

Shareholders in the country's biggest general insurer, Insurance Australia Group, who might have been looking for more positive news from the lumbering giant at yesterday's AGM would have been disappointed.

Insurance Australia Group has suffered a major blow to its ambitions to grow in the rapidly expanding Chinese financial services market.

Earlier this week an insurance analyst at a leading investment bank wondered where the downturn would come in the general insurance industry after solid performances by Promina and the GIO arm of Suncorp-Metway.