IAG annual profit climbs 59 pct

SYDNEY Mon Aug 18, 2014 7:15pm EDT

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SYDNEY Aug 19 (Reuters) - Insurance Australia Group said on Tuesday its full-year net profit rose 59 percent, helped by higher investment income, and forecast gross written premium (GWP) growth of 17-20 percent this year.

Net profit for the year-ended June rose to A$1.23 billion ($1.15 billion) compared with A$776 million a year ago, in line with forecasts for A$1.2 billion from 15 analysts polled by Thomson Reuters I/B/E/S.

IAG, which specialises in motor and property insurance, announced a dividend of 26 cents per share, bringing the full year dividend to 39 cents, an increase of 8.3 percent from a year ago.

($1 = 1.0728 Australian dollar) (Reporting by Swati Pandey; Editing by Jane Wardell and Paul Tait)