Premium Rate Rises, Cost Containment Underpin Insurance Australia's Medium-Term Margin Improvement
Insurance Australia Group is a general insurer with around AUD 15 billion of annual gross written premiums operating in Australia and New Zealand. It is a custodian of well-known heritage brands that include NRMA, CGU, SGIO, SGIC, and Swann Insurance in Australia and State, NZI, AMI, and Lumley in New Zealand. Some brands are specific to certain states, but at a group level the insurer carries concentrated weather and earthquake risk in Australia and New Zealand.