Insurance Australia Group Limited
(ASX:IAG) reports a fall in full year net profit of 41 per cent to $728 million citing increases in natural disaster claim costs.
The company says its preferred measure of business performance, underlying insurance margin, fell slightly to 13.1%.
Digital developments are at the heart of the company’s hopes for the future and it cites innovation and a push into Asia as being strong foundations for growth.
Gross written premiums were up 17 per cent to $11.4 billion and a final dividend of $0.16 per share will be paid, fully franked.
