IAG Announces New Tier 2 Subordinated Note Issue to Strengthen Capital Position

Insurance Australia Group Limited ( (AU:IAG) ) has provided an announcement.

Insurance Australia Group Limited (IAG) has announced plans to issue a new A$ Tier 2 subordinated note to wholesale investors, aiming to raise subordinated debt that qualifies as Tier 2 Capital under the Australian Prudential Regulation Authority’s capital adequacy framework. This strategic move is expected to bolster IAG’s capital position, offering a floating rate issue with specific terms regarding maturity, redemption, and conversion. The announcement underscores IAG’s proactive approach to managing its capital structure, potentially impacting its financial stability and stakeholder confidence.

More about Insurance Australia Group Limited

Insurance Australia Group Limited (IAG) is a leading general insurance company operating in Australia and New Zealand. The company underwrites over $16 billion in insurance premiums annually through prominent brands such as NRMA Insurance, RACV, CGU, WFI in Australia, and NZI, State, AMI, and Lumley in New Zealand.

YTD Price Performance: -3.27%

Average Trading Volume: 3,663

Technical Sentiment Consensus Rating: Sell

Current Market Cap: $11.9B

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