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30 March 2015
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.
26 March 2015
Exciting opportunity for a Manager – Corporate Facilities I Broker and Agency Division - Corporate I Sydney CBD
26 March 2015
Do you have Case Manager experience and want to further your career? If so, we want to hear from you!
25 March 2015
Support the insurance manager with claims lodgment, data gathering for our renewals, issuing certificates of insurance, liaising with our brokers and assisting the insurance manger with the day-to-day administration of our insurance program.
24 March 2015
Insurance Premium Funding - Business Development Manager
10 March 2015
Build and manage a portfolio of clients in an ideal location! We go the extra mile for our clients and want a broker who will do the same.
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12-month contract for an experienced Commercial Lines Underwriter