SYDNEY, Feb 22 (Reuters) - Insurance Australia Group IAG.AX , the nation's largest general insurer by market share, posted a 4.3 percent fall in first-half net profit on Wednesday, topping market expectations, as strong equity markets increased investment income and gross written premiums were higher than forecast.
IAG (LON:ICAG), which specialises in motor and property insurance, said net profit fell to A$446 million ($342 million) in the six months ended Dec. 31 compared with A$466 million a year ago but beat the A$419 million estimate of three analysts polled by Thomson Reuters I/B/E/S.
IAG, which has a strategic partnership with U.S. investor Warren Buffett's Berkshire Hathaway (NYSE:BRKa) Inc BRKa.N , reported an insurance margin of 12.6 percent for the half-year, near the bottom of its target range of 12.5 to 14.5 percent. ($1 = 1.3024 Australian dollars)