IAG Says Q1 Started Well

Insurance Australia Group Ltd. (IAUGY.PK,IAUGF.PK) said that the first quarter of the year has started well, and affirmed guidance for fiscal year 2022 that it provided at the results in August.

The company recorded mid single-digit gross written premium growth in the quarter. GWP guidance remains 'low single-digit growth' for the full year. It factors in portfolio management in Intermediated Insurance Australia. It still expects this to constrain volume growth for the balance of the year.

IAG said it is also on track to meet reported insurance margin guidance of 13.5 -15.5%.

The company expects the Intermediated Insurance Australia business to be a positive contributor to its long-term performance.

The company said it now has 43% of women in senior management roles, well on way to target of 50% by 2023.

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