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Insurance Australia Group Ltd (IAG.AX)

IAG.AX on Australia Stock Exchange

6.23AUD
29 May 2017
Change (% chg)

$-0.04 (-0.64%)
Prev Close
$6.27
Open
$6.27
Day's High
$6.29
Day's Low
$6.22
Volume
2,497,418
Avg. Vol
5,879,974
52-wk High
$6.57
52-wk Low
$5.11

Latest Key Developments (Source: Significant Developments)

Insurance Australia Group says IAG small shareholding sale facility closed on 7 April 2017
Tuesday, 11 Apr 2017 08:58pm EDT 

Insurance Australia Group Ltd : Further to IAG's announcement on 22 february 2017, IAG small shareholding sale facility closed on 7 April 2017 .Facility led to sale of 281,438 shares and participating shareholders will receive $6.1063 per share.  Full Article

Insurance Australia Group updates on revised FY17 reported insurance margin
Tuesday, 4 Apr 2017 07:52pm EDT 

Insurance Australia Group Ltd : Asx alert-impact of TC Debbie, revised FY17 reported insurance margin-IAG.AX . Financial impact of tropical cyclone Debbie and revised FY17 reported insurance margin guidance . Estimates it will incur a net natural peril claims cost of approximately $140 million from tropical cyclone Debbie . IAG's businesses have received approximately 4,300 claims as at 4 April 2017 for mainly property damage in relation to tropical cyclone Debbie . Following this event, IAG has increased its expectation for FY17 net natural peril claim costs to $850 million . IAG has lowered its FY17 reported insurance margin guidance range, from 12.5-14.5% to 10.5-12.5% . Expected full utilisation of FY17-specific reinsurance cover of $96 million .Estimate of around $100 million for further peril events in combined months of April, May and June 2017.  Full Article

Insurance Australia updates on Northern Sydney hailstorm
Sunday, 5 Mar 2017 05:43pm EST 

Insurance Australia Group Ltd : Asx alert-further update on northern sydney hailstorm event-iag.ax . IAG expects net claim cost from hailstorm will be around $160 million . After allowance for reinsurance, IAG's maximum possible net exposure to this event is $200 million . IAG's financial year-to-date net claim cost from natural peril events is estimated to be around $650 million as at end of February 2017 . Received over 20,000 claims from 18 February 2017 northern Sydney hailstorm. .Based on an estimated cost of $160 million for hailstorm event and combination of covers in place, IAG's maximum exposure for next event is $140 million.  Full Article

Insurance Australia Group updates on Northern Sydney hail storm
Tuesday, 21 Feb 2017 04:51pm EST 

Insurance Australia Group Ltd : Received more than 13,000 claims to date, predominantly motor, from Northern Sydney hailstorm on 18 February 2017 . IAG's natural perils allowance for FY17 is $680 million and company today reported net natural peril claim costs of $420 million for 1H17 . Assumed net cost from event together with further perils in FY17 will be within current perils allowance and available reinsurance cover . Setting up specialist hail repair units across wollongong, castle hill and chatswood to help assess and repair hail damaged vehicles ."Additional employees have been allocated to claims and repair management teams".  Full Article

Insurance Australia Group says it has maintained its FY17 reported margin guidance
Tuesday, 21 Feb 2017 04:33pm EST 

Insurance Australia Group Ltd : IAG has maintained its fy17 reported margin guidance of 12.5-14.5%, with an expected outcome around middle of range. . "slightly softer underlying profitability than originally anticipated, with 2H17 expected to be consistent with 1h17" ."too early to determine net cost from northern sydney hailstorm on 18 february 2017".  Full Article

Insurance Australia Group says HY revenue from ordinary activities fell 0.7 pct
Tuesday, 21 Feb 2017 04:31pm EST 

Insurance Australia Group Ltd : hy revenue from ordinary activities $ 8,179 million versus $8,235 million a year ago . interim dividend 13.0 cents per share . hy net profit attributable $446 million versus $466 million . IAG continues to expect to record a sound operating performance for year ended 30 June 2017. ."IAG has raised its GWP guidance to one of 'low single digit growth'".  Full Article

Insurance Australia Group says Co to provide small shareholding sale facility
Thursday, 22 Dec 2016 06:51pm EST 

Insurance Australia Group Ltd : IAG to provide small shareholding sale facility-IAG.AX .Advises that it intends to establish a small shareholding sale facility for shareholders with holdings valued at $500 or less.  Full Article

Insurance Australia Group completes redemption of subordinated notes
Thursday, 22 Dec 2016 02:06am EST 

Insurance Australia Group Ltd :IAG completes redemption of subordinated notes.  Full Article

Insurance Australia says will buy back shares of about $314 mln
Sunday, 9 Oct 2016 05:36pm EDT 

Insurance Australia Group Ltd : IAG will buy back its shares to value of around $314 million .Buybback will be conducted at a buy-back price of $4.91 after application of a buy-back discount of 11%..  Full Article

Insurance australia Group extends quota share agreement with Munich Re
Thursday, 6 Oct 2016 05:37pm EDT 

Insurance Australia Group Ltd : Extended quota share agreement with Munich Re that covers 30% of IAG's compulsory third party (ctp) business. . New agreement is for a minimum four-year period from 1 july 2016, with an option for a further two years .IAG extends CTP quota share agreement.  Full Article

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