IAG Successfully Prices A$500 Million Subordinated Notes

An update from Insurance Australia Group Limited ( (AU:IAG) ) is now available.

Insurance Australia Group Limited (IAG) has successfully priced A$500 million in subordinated notes, which are set to be issued on March 5, 2025, and are expected to qualify as Tier 2 Capital under the Australian Prudential Regulation Authority’s capital adequacy framework. This move is likely to strengthen IAG’s capital base, enhancing its financial stability and potentially improving its market position, while offering investors a quarterly interest at a floating rate.

More about Insurance Australia Group Limited

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

YTD Price Performance: -3.29%

Average Trading Volume: 3,663

Technical Sentiment Consensus Rating: Sell

Current Market Cap: $11.9B

For detailed information about IAG stock, go to TipRanks’ Stock Analysis page.