Insurance Australia Group Limited ( (AU:IAG) ) just unveiled an announcement.
Insurance Australia Group Limited (IAG) reported that its half-year results for the period ended 31 December 2024 aligned with market expectations, particularly after accounting for favorable natural perils and business interruption provision adjustments. The company’s reported insurance profit exceeded forecasts, with a margin of 19.4% compared to the guidance of 13.5% to 15.5%, and a gross written premium growth of 6.0%, consistent with ‘mid-to-high single digit’ guidance. While the net profit after tax was higher than analyst expectations due to a specific provision release, IAG maintained that there were no material differences from market forecasts.
More about Insurance Australia Group Limited
Insurance Australia Group Limited (IAG) operates in the insurance industry, providing a range of insurance products and services. The company focuses on general insurance, offering coverage for natural perils, and aims to maintain significant market presence in Australia and New Zealand.
YTD Price Performance: -4.26%
Average Trading Volume: 3,663
Technical Sentiment Consensus Rating: Sell
Current Market Cap: $11.73B
See more data about IAG stock on TipRanks’ Stock Analysis page.