Insurance Australia Group (ASX:IAG) reports a $460 million loss

Company News

by Rachael Jones

Insurance Australia Group (ASX:IAG) reports a $460 million loss for the first half of the 2021 financial year – last half they made $283.

They reported an estimated net benefit of $60-$70 million from Covid-19 effects, mainly from lower motor claim frequency.

The company cut its interim dividend from a 70 per cent franked 10 cents dividend last year, to an unfranked 7 cents dividend this year.

Shares in Insurance Australia Group (ASX:IAG) are trading 4.74 per cent higher at $5.30.

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