Insurance Australia Group Limited
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July 1, 2020
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Insurance Australia Group Limited

Revenue:
AUD 7,238 million (2019)
Profit:
AUD 1,076 million (2019)
Employees:
11,126 (2019)
GICS Industry Group:
Headquarters:
Sydney, New South Wales, Australia
Founded:
July 2000
Current CEO:
Peter Harmer (16 Nov 2015–)
Parent:
This is the ultimate parent

Description

Insurance Australia Group Limited (IAG) is engaged in the underwriting of general insurance, related corporate services and investing activities. IAG primarily operates in Australia and New Zealand with smaller operations in Vietnam and Indonesia, and a joint venture in India.

In 2002, the company changed its name from NRMA Insurance Group Limited to Insurance Australia Group Limited.

IAG's registered office and principal place of business is Level 13, Tower Two, Darling Park, 201 Sussex Street, Sydney, New South Wales 2000, Australia.

As at 30 June 2019, IAG employed 11,126 people, with 8,015 people located in Australia, and 3,111 located in New Zealand.

Insurance Australia Group Limited is listed on the Australian Securities Exchange (ASX) under the code IAG.

In Australian Dollars (AUD)
In Australian Dollars (AUD)
In Australian Dollars (AUD)
No items found.

Operating Segments:

Australia - IAG provides general insurance products to individuals, families and businesses throughout Australia. Insurance is offered primarily through the NRMA Insurance, SGIO, SGIC and CGU brands, the RACV brand in Victoria (via a distribution and underwriting relationship with RACV), the Coles Insurance brand (via a distribution agreement with Coles) and the WFI brand through intermediaries including brokers, authorised representatives and distribution partners. For the financial year end 30 June 2019, IAG generated AUD 13,919 million in external revenue from its Australia operations.

New Zealand - IAG provides general insurance products underwritten in New Zealand. Insurance products are sold directly to customers predominantly under the State and AMI brands, and through intermediaries (insurance brokers and authorised representatives) primarily using the NZI and Lumley Insurance brands. For the financial year end 30 June 2019, IAG generated AUD 3,421 million in external revenue from its New Zealand operations.

Corporate and other - The corporate and other segment includes corporate services, capital management activity, shareholders’ funds investment activities, inward reinsurance from associates, and investment in associates in Malaysia and India. For the financial year end 30 June 2019, the corporate and other segment generated AUD 318 million in external revenue.

Mergers and Acquisitions:

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