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    IAG   AU000000IAG3

INSURANCE AUSTRALIA GROUP LIMITED

(IAG)
  Report
End-of-day quote. End-of-day quote Australian Stock Exchange - 09/21
5.02 AUD   +0.40%
09/20INSURANCE AUSTRALIA : Chief Risk Officer Resigns
MT
09/20INSURANCE AUSTRALIA : IAG announces resignation of Chief Risk Officer
PU
09/20IAG Announces Resignation of David Watts as Chief Risk Officer
CI
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IAG Signals Fiscal Year 2021 Net Loss, Restarts Fiscal Year 2022 Guidance

07/22/2021 | 05:18pm EDT

By Alice Uribe

SYDNEY--Insurance Australia Group Ltd. said it expects to report a 427 million Australian dollar (US$315.2 million) loss the 2021 fiscal year, as it reintroduced guidance for the coming 12 months.

IAG said the forecast loss for the 12 months through June compares to a net profit of A$435 million in the previous year.

The Australian insurer on Friday also said a preliminary assessment of its cash earnings for fiscal 2021 is A$747 million, up from A$279 million the previous year.

"Our underlying financial results for the year are sound and within expectations," said Chief Executive Nick Hawkins. "However, we have had challenges with issues that have been identified and provisioned for in our preliminary results."

IAG restarted guidance for fiscal 2022, citing confidence in the business and its outlook.

It expects "low single-digit" gross written premium growth in fiscal 2022, and a reported insurance margin of 13.5-15.5%.

The gross written premium guidance reflects modest growth in customer numbers in Direct Insurance Australia, ongoing rate increases across personal and commercial lines and further portfolio remediation.

Write to Alice Uribe at alice.uribe@wsj.com

(END) Dow Jones Newswires

07-22-21 1918ET

All news about INSURANCE AUSTRALIA GROUP LIMITED
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Analyst Recommendations on INSURANCE AUSTRALIA GROUP LIMITED
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Financials
Sales 2022 7 930 M 5 741 M 5 741 M
Net income 2022 769 M 557 M 557 M
Net cash 2022 6 770 M 4 901 M 4 901 M
P/E ratio 2022 16,8x
Yield 2022 4,39%
Capitalization 12 306 M 8 892 M 8 910 M
EV / Sales 2022 0,70x
EV / Sales 2023 0,65x
Nbr of Employees 13 650
Free-Float 99,8%
Chart INSURANCE AUSTRALIA GROUP LIMITED
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Insurance Australia Group Limited Technical Analysis Chart | IAG | AU000000IAG3 | MarketScreener
Technical analysis trends INSURANCE AUSTRALIA GROUP LIMITED
Short TermMid-TermLong Term
TrendsBearishNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 12
Last Close Price 5,02 AUD
Average target price 5,60 AUD
Spread / Average Target 11,5%
EPS Revisions
Managers and Directors
Nicholas Barrie Hawkins Chief Executive Officer, Director & MD
Michelle McPherson Chief Financial Officer
Elizabeth Blomfield Bryan Chairman
Neil Morgan Chief Operating Officer
Thomas William Pockett Independent Non-Executive Director
Sector and Competitors