Board Change • Aug 04
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 6 experienced directors. 3 highly experienced directors. Independent Non-Executive Director JoAnne Stephenson was the last director to join the board, commencing their role in 2025. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Annonce • Feb 10
IAG Reportedly Eyes Sale of $4 Billion-Plus Insurance Unit Insurance Australia Group Limited (ASX:IAG) is in focus in the financial services industry amid speculation that the ASX-listed company could be positioning a $4 billion-plus division of the business for sale. While IAG has denied it is on offer or it has formally hired an investment bank, sources believe investment bank Barrenjoey is positioning itself for a role selling IAG's intermediated insurance business. This largely consists of its CGU business, which some estimate could be worth between $4 billion and $5.5 billion. Fuelling the speculation is that IAG separated the unit from the overall IAG business last year, and some think that's in preparation for a sale. The logic is that the earnings margins for that business are lower than for other parts of the company, and for earnings to grow, it needs to increase its broker network. Annonce • May 15
Insurance Australia Group Limited (ASX:IAG) agreed to acquire RAC Insurance business from The Royal Automobile Club of W.A. (Incorporated) for AUD 400 million. Insurance Australia Group Limited (ASX:IAG) agreed to acquire RAC Insurance business from The Royal Automobile Club of W.A. (Incorporated) for AUD 400 million on May 15, 2025. A cash consideration of AUD 400 million will be paid by Insurance Australia Group Limited. As part of consideration, AUD 400 million is paid towards business division of RAC Insurance business. The consideration is subject to customary completion adjustments. The transaction will be funded from Insurance Australia Group Limited existing surplus capital, debt and strong, stable organic capital generation. The transaction is subject to conditions including Australian Competition and Consumer Commission clearance and Commonwealth Treasurer (FSSA Approval). The transaction is expected to complete in the first half of calendar year 2026. The deal is expected to be earnings per share (EPS) accretive in the first full year, and mid-single digit EPS accretive on a full synergy run-rate basis. Goldman Sachs Australia Equity Pty. Ltd. acted as financial advisor to Insurance Australia Group Limited (ASX:IAG). Annonce • Mar 28
Insurance Australia Group Limited Announces Appointment of Joanne Stephenson as an Independent Non-Executive Director , Effective 12 May 2025 Insurance Australia Group Limited announced the appointment of JoAnne Stephenson as an Independent Non-Executive Director to the IAG Board, effective 12 May 2025. Ms. Stephenson will bring additional insurance and other financial services, risk management, and transformational change skills to the Board, supplementing those of the existing Directors. Ms. Stephenson's executive career covers over 25 years across a range of industries. She was a
Partner with KPMG for more than 15 years, and in her final management role there, she led one of the two national advisory divisions as a member of the firm's leadership team. JoAnne retired in 2011 as a senior client partner in the Advisory practice with KPMG in Melbourne, working with both private and public sector clients in large complex projects. JoAnne is an experienced company director across public and private organisations. In her listed company roles, she is a Non-Executive Director of Challenger (since 2012), Chair of its Group People and Remuneration Committee, and a member of its Group Risk Committee, Group Audit Committee, Independent and Related Party Committee and Nomination Committee; a Non-Executive Director of Qualitas (since 2021), and Chair of its Nomination, Remuneration & Culture Committee; and a Non-Executive Director of Helia Group Limited (since 2024). Other roles include Director and Chair of the Audit, Risk and Compliance Committee for Estia Investments Pty Ltd; Chair of the Audit and Risk Committee for Estia Health TopCo Pty Ltd; and Non-Executive Director of Lifestyle Communities Ltd. (since 2024), where she is a member of its People & Culture Committee and the Audit & Risk Committee. JoAnne was previously Chair and Non-Executive Director of Myer Holdings Ltd. (November 2016 - November 2023); Chair of the Major Transport Infrastructure Board (Victoria); and a Non-Executive Director of Asaleo Care Limited and Japara Healthcare Limited. She holds a Bachelor of Commerce and Bachelor of Laws (Honours) from the University of Queensland, and is a Member of Chartered Accountants Australia and New Zealand and the Australian Institute of Company Directors. Annonce • Feb 13
Insurance Australia Group Limited Announces Interim Dividend, Payable on March 7, 2025 Insurance Australia Group Limited's Board has determined to pay an interim dividend of 12.0 cents per share, franked to 60% (first half of 2024: 10.0 cents per share, franked to 40%). Record date is February 19, 2025. Payment date is March 7, 2025. Annonce • Feb 03
Insurance Australia Group Limited Announces Appointment of Penelope (Penny) MacRae as Group Company Secretary, Effective 10 February 2025 Insurance Australia Group Limited announced the appointment of Penelope (Penny) MacRae as Group Company Secretary, effective 10 February 2025. Annonce • Nov 28
Insurance Australia Group Limited Announces Resignation of Jane Bowd as Group Company Secretary and Corporate Counsel Insurance Australia Group Limited advises that Jane Bowd has resigned and will step down from the role of Group Company Secretary and Corporate Counsel of IAG effective on 28 November 2024. Annonce • Oct 03
Jon Nicholson to Retire from the Board of Directors of IAG, Effective 9 October 2024 IAG has announced Jon Nicholson's decision to retire from the Board of Directors on 9 October 2024. Mr. Nicholson joined the IAG Board in September 2015 and served on three Board Committees: the People and Remuneration Committee, the Nomination Committee and the Risk Committee. During these terms, he was Chair of the People and Remuneration Committee, and Chair of the Risk Committee. Mr. Nicholson was last re-elected to the IAG Board at the 2023 Annual General Meeting and at the time, flagged this would be his final term as a Director of the company. Declared Dividend • Aug 23
Final dividend of AU$0.17 announced Shareholders will receive a dividend of AU$0.17. Ex-date: 29th August 2024 Payment date: 26th September 2024 Dividend yield will be 5.4%, which is higher than the industry average of 3.8%. Sustainability & Growth Dividend is covered by both earnings (72% earnings payout ratio) and cash flows (45% cash payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. EPS is expected to grow by 22% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Annonce • Aug 23
Insurance Australia Group Limited Announces Ordinary Dividend for the Six Months Ended June 30, 2024, Payable on September 26, 2024 Insurance Australia Group Limited announced ordinary dividend of AUD 0.17000000 for the six months ended June 30, 2024, payable on September 26, 2024. Record Date: August 30, 2024 and Ex Date: August 29, 2024. Reported Earnings • Aug 21
Full year 2024 earnings released Full year 2024 results: Revenue: AU$9.70b (up 10.0% from FY 2023). Net income: AU$898.0m (up 7.9% from FY 2023). Profit margin: 9.3% (down from 9.4% in FY 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 4.0% p.a. on average during the next 3 years, compared to a 5.0% growth forecast for the Insurance industry in Europe. Annonce • Aug 21
Insurance Australia Group Limited (ASX:IAG) announces an Equity Buyback for AUD 350 million worth of its shares. Insurance Australia Group Limited (ASX:IAG) announces a share repurchase program. Under the program, the company will repurchase up to AUD 350 million worth of its shares. The plan will be valid till August 20, 2025. As of August 21, 2024, the company had 2,370,239,496 shares issued. Annonce • Jun 28
Insurance Australia Group Limited Updates Earnings Guidance for the Fiscal Year 2024 Insurance Australia Group Limited Updated earnings guidance for the fiscal year 2024. For the period, Gross Written Premium (GWP) growth is expected to be consistent with the `low-double digit' guidance. Annonce • Apr 02
IAG Appoints Robert Cutler as Group General Counsel IAG announced the appointment of Robert Cutler as the company's Group General Counsel, effective 4 April 2024. Mr. Cutler joins IAG after a 33-year career with Clayton Utz, which included six years as Chief Executive Partner and Board Member. He was also a Director of the not-for-profit Clayton Utz Foundation. Mr. Cutler is a former Member of the Business Council of Australia's Economic Policy & Competitiveness Committee and Regulatory & Compliance Committee. He is a member of the Law Society of NSW and a Federal Government Board Links Champion. Declared Dividend • Feb 19
First half dividend of AU$0.10 announced Shareholders will receive a dividend of AU$0.10. Ex-date: 21st February 2024 Payment date: 27th March 2024 Dividend yield will be 4.2%, which is higher than the industry average of 3.8%. Sustainability & Growth Dividend is covered by both earnings (62% earnings payout ratio) and cash flows (37% cash payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. EPS is expected to grow by 31% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Feb 18
First half 2024 earnings released: EPS: AU$0.17 (vs AU$0.20 in 1H 2023) First half 2024 results: EPS: AU$0.17 (down from AU$0.20 in 1H 2023). Revenue: AU$7.86b (up 13% from 1H 2023). Net income: AU$407.0m (down 17% from 1H 2023). Profit margin: 5.2% (down from 7.0% in 1H 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 3.2% p.a. on average during the next 3 years, compared to a 8.1% growth forecast for the Insurance industry in Germany. Over the last 3 years on average, earnings per share has increased by 94% per year but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth. Annonce • Feb 16
Insurance Australia Group Limited (ASX:IAG) announces an Equity Buyback for AUD 200 million worth of its shares. Insurance Australia Group Limited (ASX:IAG) announces a share repurchase program. Under the program, the company will repurchase up to AUD 200 million worth of its shares. The plan will be valid till February 14, 2025. As of February 16, 2024, the company had 2,401,555,365 shares issued. Annonce • Nov 29
Insurance Australia Group Limited Announces the Appointment of Andrew Collings as an Additional Company Secretary Insurance Australia Group Limited announced the appointment of Andrew Collings as an additional Company Secretary effective 28 November 2023. In accordance with ASX Listing Rule 12.6, Andrew Collings is responsible for communication with the ASX. Peter Horton, Group General Counsel & Company Secretary and Jane Bowd, Group Company Secretary continue as Company Secretaries of IAG. Annonce • Nov 21
Insurance Australia Group Limited, Annual General Meeting, Oct 24, 2024 Insurance Australia Group Limited, Annual General Meeting, Oct 24, 2024. Annonce • Nov 04
Insurance Australia Group Limited to Report First Half, 2024 Results on Feb 16, 2024 Insurance Australia Group Limited announced that they will report first half, 2024 results on Feb 16, 2024 Annonce • Nov 03
Insurance Australia Group Limited to Report Fiscal Year 2024 Results on Aug 21, 2024 Insurance Australia Group Limited announced that they will report fiscal year 2024 results on Aug 21, 2024 Annonce • Oct 07
IAG Appoints William McDonnell as Chief Financial Officer, Effective 11 December 2023 IAG Managing Director and CEO Nick Hawkins has appointed William McDonnell as IAG Chief Financial Officer (CFO) effective 11 December 2023, subject to regulatory approval. Mr. McDonnell has more than 25 years' global experience across insurance, finance, capital markets, risk, governance, and regulation. Mr. McDonnell spent 15 years at general insurer Royal & Sun Alliance Insurance Group (RSA), where for the last seven years he was Group Chief Risk Officer with accountability for the Group's risk, including strategic, underwriting, financial, compliance, and assurance. Mr. McDonnell left RSA when it was acquired in 2021 by Danish insurer Tryg and Canada's Intact Financial Corporation. During his time at RSA, Mr. McDonnell also held senior finance and capital roles. He was Group Director of Financial Reporting and Control, and Head of Economic Capital, Corporate Finance and Capital Management. Mr. McDonnell also created and chaired RSA's ESG Committee, was a founder member of the Bank of England's Climate Financial Risk Forum, and a member of the University of Cambridge ClimateWise Council. He chaired the CRO Forum Emerging Risk Initiative, leading its research into climate risks and insurability. Mr. McDonnell joins IAG from the global governance body, the Integrity Council for the Voluntary Carbon Market (ICVCM), where he spent two years as Chief Operating Officer, reporting to the Chair. Mr. McDonnell built the organisation from its foundation, leading it to be recognised as the world's standard-setter for carbon credits, and he oversaw the recent release of the Core Carbon Principles and rulebook. Mr. McDonnell has also held roles at HSBC Investment Bank, Aviva, the UK Financial Services Authority and Deloitte. Mr. McDonnell has a BA in Classics from Oxford University and is a member of the Institute of Chartered Accountants in England and Wales. IAG's current CFO, Michelle McPherson, who announced her retirement in May this year, will remain with the company until the end of the calendar year. Reported Earnings • Aug 22
Full year 2023 earnings released: EPS: AU$0.34 (vs AU$0.14 in FY 2022) Full year 2023 results: EPS: AU$0.34 (up from AU$0.14 in FY 2022). Revenue: AU$8.82b (up 16% from FY 2022). Net income: AU$832.0m (up 140% from FY 2022). Profit margin: 9.4% (up from 4.6% in FY 2022). The increase in margin was driven by higher revenue. Combined ratio: 93.7% (up from 89.6% in FY 2022). Revenue is forecast to grow 4.5% p.a. on average during the next 3 years, compared to a 2.9% growth forecast for the Insurance industry in Germany. Over the last 3 years on average, earnings per share has increased by 75% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth. Board Change • Aug 01
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Independent Non-Executive Director Wendy Thorpe was the last director to join the board, commencing their role in 2023. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Feb 13
First half 2023 earnings released: EPS: AU$0.19 (vs AU$0.07 in 1H 2022) First half 2023 results: EPS: AU$0.19 (up from AU$0.07 in 1H 2022). Revenue: AU$4.28b (up 6.7% from 1H 2022). Net income: AU$468.0m (up 172% from 1H 2022). Profit margin: 11% (up from 4.3% in 1H 2022). Revenue is forecast to grow 5.3% p.a. on average during the next 3 years, compared to a 4.3% growth forecast for the Insurance industry in Germany. Over the last 3 years on average, earnings per share has increased by 9% per year but the company’s share price has fallen by 10% per year, which means it is significantly lagging earnings. Annonce • Feb 13
Insurance Australia Group Limited Announces Ordinary Dividend for the Six Months Ended 31 December 2022, Payable on 23 March 2023 Insurance Australia Group Limited announced ordinary dividend of AUD 0.06000000 per share for the six months ended 31 December 2022. The dividend will payable on 23 March 2023 with record date of 17 February 2023 and ex-date of 16 February 2023. Annonce • Dec 21
Insurance Australia Group Limited, Annual General Meeting, Oct 11, 2023 Insurance Australia Group Limited, Annual General Meeting, Oct 11, 2023. Board Change • Nov 16
High number of new directors Independent Non-Executive Director Scott Pickering was the last director to join the board, commencing their role in 2021. Recent Insider Transactions • Aug 23
Independent Non Executive Director recently bought €94k worth of stock On the 15th of August, Simon Allen bought around 30k shares on-market at roughly €3.13 per share. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought €436k more in shares than they have sold in the last 12 months. Reported Earnings • Aug 13
Full year 2022 earnings released: EPS: AU$0.14 (vs AU$0.17 loss in FY 2021) Full year 2022 results: EPS: AU$0.14 (up from AU$0.17 loss in FY 2021). Revenue: AU$7.57b (down 3.9% from FY 2021). Net income: AU$347.0m (up AU$761.0m from FY 2021). Profit margin: 4.6% (up from net loss in FY 2021). The move to profitability was driven by lower expenses. Combined ratio: 89.6% (up from 88.4% in FY 2021). Over the next year, revenue is forecast to grow 12%, compared to a 26% growth forecast for the insurance industry in Germany. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 53 percentage points per year, which is a significant difference in performance. Board Change • Apr 27
High number of new directors There are 6 new directors who have joined the board in the last 3 years. Independent Non-Executive Director Scott Pickering was the last director to join the board, commencing their role in 2021. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Feb 12
First half 2022 earnings: EPS in line with analyst expectations despite revenue beat First half 2022 results: EPS: AU$0.07 (up from AU$0.20 loss in 1H 2021). Revenue: AU$4.01b (up 2.0% from 1H 2021). Net income: AU$172.0m (up AU$628.0m from 1H 2021). Profit margin: 4.3% (up from net loss in 1H 2021). The move to profitability was primarily driven by lower expenses. Revenue exceeded analyst estimates by 3.1%. Over the next year, revenue is forecast to stay flat compared to a 15% growth forecast for the industry in Germany. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 74 percentage points per year, which is a significant difference in performance. Recent Insider Transactions • Nov 10
Independent Non-Executive Chairman recently bought €78k worth of stock On the 1st of November, Thomas Pockett bought around 25k shares on-market at roughly €3.12 per share. In the last 3 months, they made an even bigger purchase worth €130k. Thomas has been a buyer over the last 12 months, purchasing a net total of €208k worth in shares. Board Change • Nov 01
High number of new directors There are 6 new directors who have joined the board in the last 3 years. Independent Non-Executive Chairman Tom Pockett was the last director to join the board, commencing their role in 2021. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Board Change • Oct 02
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Independent Non-Executive Director George Sartorel was the last director to join the board, commencing their role in 2021. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Recent Insider Transactions • Sep 02
Independent Non-Executive Director recently bought €130k worth of stock On the 1st of September, Thomas Pockett bought around 40k shares on-market at roughly €3.24 per share. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought €196k more in shares than they have sold in the last 12 months. Reported Earnings • Aug 12
Full year 2021 earnings released The company reported a soft full year result with weaker earnings and weaker control over costs, although revenues improved. Full year 2021 results: Revenue: AU$7.88b (up 9.1% from FY 2020). Net loss: AU$414.0m (down 194% from profit in FY 2020). Executive Departure • Jul 13
Company Secretary Sejil Mistry-Moodley has left the company On the 30th of June, Sejil Mistry-Moodley's tenure as Company Secretary ended. We don't have any record of a personal shareholding under Sejil's name. A total of 2 executives have left over the last 12 months. The current median tenure of the management team is 3.63 years. Recent Insider Transactions • Mar 05
Independent Non Executive Director recently bought €66k worth of stock On the 24th of February, Simon Allen bought around 20k shares on-market at roughly €3.30 per share. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought €160k more in shares than they have sold in the last 12 months. Analyst Estimate Surprise Post Earnings • Feb 12
Revenue beats expectations Revenue exceeded analyst estimates by 0.3%. Over the next year, revenue is forecast to grow 14%, compared to a 15% growth forecast for the Insurance industry in Germany. Is New 90 Day High Low • Feb 12
New 90-day high: €3.32 The company is up 6.0% from its price of €3.14 on 13 November 2020. The German market is up 10.0% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Insurance industry, which is up 3.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €2.83 per share. Reported Earnings • Feb 12
First half 2021 earnings released: AU$0.20 loss per share (vs AU$0.13 profit in 1H 2020) The company reported a soft first half result with weaker earnings and weaker control over costs, although revenues improved. First half 2021 results: Revenue: AU$3.94b (up 4.5% from 1H 2020). Net loss: AU$456.0m (down 259% from profit in 1H 2020). Over the last 3 years on average, earnings per share has fallen by 51% per year but the company’s share price has only fallen by 12% per year, which means it has not declined as severely as earnings. 
