IAG NZ flags higher prices are on the cards

Wed, 11 Aug 2021

Insurance Australia Group’s New Zealand business relied on higher rates to drive premium growth on this side of the Tasman in the 12 months ended June 30, and is flagging more hikes are on the cards for the coming year.NZ’s biggest insurer – which operates the NZI, AMI, State and Lumley brands – reported gross written premiums of $2.98 billion in the June year, up from $2.9b a year earlier. That was driven by higher rates for both business and consumer policies and some volume growth among commercial property and constru...

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