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Insurance Australia Group Limited ( (AU:IAG) ) has issued an update.
Insurance Australia Group Limited (IAG) has announced a new offering of A$ Tier 2 subordinated notes to wholesale investors, aiming to raise subordinated debt qualifying as Tier 2 Capital under the Australian Prudential Regulation Authority’s framework. This move is part of IAG’s strategic financial management, potentially impacting its capital structure and market positioning. The notes will have a floating interest rate and a maturity date in 2038, with options for early redemption or conversion under specific conditions, subject to regulatory approval.
The most recent analyst rating on (AU:IAG) stock is a Hold with a A$8.80 price target. To see the full list of analyst forecasts on Insurance Australia Group Limited stock, see the AU:IAG Stock Forecast page.
More about Insurance Australia Group Limited
Insurance Australia Group Limited (IAG) is a leading general insurance group operating in Australia and New Zealand. The company underwrites over $17 billion in insurance premiums annually through various well-known brands such as NRMA Insurance, RACV, RACQ Insurance, CGU, WFI in Australia, and NZI, State, AMI, and Lumley in New Zealand.
Average Trading Volume: 4,565,096
Technical Sentiment Signal: Strong Buy
Current Market Cap: A$20.51B
Learn more about IAG stock on TipRanks’ Stock Analysis page.