IAG almost doubles NZ earnings despite Fehi, Gita

Wed, 15 Aug 2018

By Gavin Evans Aug. 15 (BusinessDesk) - Insurance Australia Group's full-year earnings in New Zealand almost doubled despite cyclones earlier this year pushing natural peril claims beyond expectations for a second year running. Insurance profit in New Zealand rose to A$218 million in the year ended June 30, from A$125 million a year earlier, the Sydney-based company said in a statement. IAG is this country’s biggest general insurer, with about 44 percent of the market. Its New Zealand brands include AMI, State, NZI and Lumley Insurance...

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