IAG shares hit 12 month high

IAG shares hit 12 month high

Investors have been snapping up shares in insurance giant IAG (ASX:IAG), ever since CEO, Mr Michael Wilkins, advised investors that IAG was likely to deliver an insurance margin towards the upper end of its 9–11% guidance for the 2010 financial year – as long as current operating conditions continued. Since the October 30 announcement IAG shares have risen over 13%.

Wilkins said that higher premiums and greater operating efficiencies and ongoing cost controls were delivering dividends for the company. He also said that the company had improved performance in its CGU brand and had reduced its exposure to the weak UK private vehicle market.

IAG is Australasia’s largest general insurer and includes the brands NRMA insurance, SGIO, CGU and NZI.

IAG today closed at a 12 month high of $4.21.

Join the CIO Australia group on LinkedIn. The group is open to CIOs, IT Directors, COOs, CTOs and senior IT managers.

Join the newsletter!


Sign up to gain exclusive access to email subscriptions, event invitations, competitions, giveaways, and much more.

Membership is free, and your security and privacy remain protected. View our privacy policy before signing up.

Error: Please check your email address.

Tags financeNRMAinsuranceIAG GroupNZICGUMichael Wilkins

More about NRMA Group

Show Comments