IAG Reports Strong Financial Performance Amid Challenges

Insurance Australia Group Limited (AU:IAG) has released an update.

Insurance Australia Group Limited (IAG) has reported an 8% increase in net profit after tax for the fiscal year 2024, reaching $898 million, driven by an 11% increase in net earned premiums to $9.2 billion. Despite challenges such as increased reinsurance costs and inflation, IAG has demonstrated resilience by maintaining financial strength and offering support measures for vulnerable customers. The company’s efforts to reward customers for mitigating risks have also contributed to its positive performance.

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