Insurance Australia Group Limited ( (AU:IAG) ) has shared an announcement.
IAG has provided an update on its response to ex-Tropical Cyclone Alfred, which impacted South East Queensland and Northern New South Wales. The company has received over 4,000 claims related to property damage and has mobilized its resources to assist affected customers. IAG has increased its claims team and is utilizing its Partner Builder Network to expedite recovery efforts. The company is also offering temporary accommodation, emergency financial assistance, and mental health support to those affected. Additionally, IAG has a robust reinsurance program in place to manage losses, including quota share reinsurance and catastrophe cover.
More about Insurance Australia Group Limited
Insurance Australia Group Limited (IAG) is a major general insurance provider operating in Australia and New Zealand. The company underwrites over $16 billion in insurance premiums annually through well-known brands such as NRMA Insurance, RACV, CGU, and WFI in Australia, and NZI, State, AMI, and Lumley in New Zealand.
YTD Price Performance: -6.77%
Average Trading Volume: 5,259
Technical Sentiment Consensus Rating: Sell
Current Market Cap: $11.56B
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