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Insurance Australia Group Limited ( (AU:IAG) ) has issued an update.
IAG has updated its financial guidance for the fiscal year ending June 2025, highlighting a favorable reduction in natural perils costs, estimated at $1,080 million, which is $200 million below the allowance. This reduction has led to an increase in the company’s reported insurance profit guidance to a range of $1,600 million to $1,800 million and an improved insurance margin guidance towards the top end of the 15.5% to 17.5% range. The Gross Written Premium (GWP) growth is expected to be between 4% and 4.5%, despite challenges such as the Coles exit and adverse currency effects. The Australian direct home and motor segments are experiencing solid growth, while the New Zealand commercial business faces softer market conditions.
The most recent analyst rating on (AU:IAG) stock is a Hold with a A$6.85 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 company operating in Australia and New Zealand. It underwrites over $16 billion in insurance premiums annually through various brands, including NRMA Insurance, RACV, CGU, WFI in Australia, and NZI, State, AMI, and Lumley in New Zealand.
YTD Price Performance: 6.65%
Average Trading Volume: 4,233,961
Technical Sentiment Signal: Buy
Current Market Cap: A$21B
For detailed information about IAG stock, go to TipRanks’ Stock Analysis page.