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BRIEF-Insurance Australia Group Posts FY GWP Of $12,005 Mln

Published 08/08/2019, 08:50 am
© Reuters. BRIEF-Insurance Australia Group Posts FY GWP Of $12,005 Mln
IAG
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Aug 8 (Reuters) - Insurance Australia Group Ltd IAG.AX :

* FY REVENUE FROM ORDINARY ACTIVITIES $17,658 MILLION VERSUS $16,411 MILLION

* FY NET PROFIT AFTER TAX FROM CONTINUING OPERATIONS ATTRIBUTABLE $ 871 MILLION VERSUS $947 MILLION

* IAG'S GWP GROWTH GUIDANCE FOR 2020 FINANCIAL YEAR IS 'LOW SINGLE DIGIT'

* FINAL DIVIDEND PER SHARE DECLARED 20.0 CENTS

* 2020 FINANCIAL YEAR REPORTED INSURANCE MARGIN GUIDANCE RANGE IS 16-18%

* FY TOTAL GWP OF $12,005 MILLION VERSUS $11,647 MILLION IN 2018

* AMOUNT BY WHICH EXPENDITURE EXCEEDS REVENUE IS EXPECTED TO EXPAND IN 2020 FINANCIAL YEAR

* EXPENDITURE EXCEEDING REVENUE IN 2020 TO RESULT IN INCREASED PRE-TAX LOSS IN FEE INCOME LINE, OF UP TO $50 MILLION

* IN ADVANCED DISCUSSIONS WITH A NUMBER OF BIDDERS REGARDING SALE OF ALL OR PART OF ITS 26% INTEREST IN SBI GENERAL IN INDIA

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