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3 December 2016
IAG expects a maximum net claim cost of $65 million from the earthquakes and aftershocks that shook Christchurch on June 13.
The insurer says the figure has been calculated after allowing for a $50 million reinsurance recovery. At June 30 it had a maximum event retention of $165 million for a future event.
The impact of the quakes will be reflected in the group’s profit for the year to June 30, but will not change guidance IAG gave the market in February. MD Mike Wilkins says IAG still expects to report an insurance margin in the range of 8-10% for the year and underlying gross written premium growth of 3-5%.
He says IAG will incur estimated net natural period claim costs of around $600 million, offset by a higher contribution from reserves, which are expected to exceed the $228 million reported in the 2010 financial year.
IAG will announce its full-year result on August 25.
2 December 2016
To oversee the policy, framework and execution of insurance risk, including underwriting, reserving and reinsurance across the Group, including providing support and appropriate second line challenge to all aspects of insurance risk, including performance.
2 December 2016
As part of a broader credit control team, you will be responsible for credit control functions that will result in sound achievement of targets and goals.
1 December 2016
Support data strategy initiatives delivering key data capabilities such as guidelines for data quality, master data and metadata across the group.