Insurance Australia Group (ASX:IAG) is one of the largest general insurers in Australia and New Zealand, providing personal and commercial insurance policies under the brands NRMA Insurance, SGIO, SGIC, CGU, Swann Insurance, State Insurance and NZI.
IAG has been among the shares to sell over the past 12 months due to the natural disasters in Australia and New Zealand.
Today IAG reaffirmed its FY12 insurance margin of 10% – 12%, saying it has been encouraged by the gross written premium growth thus far.
Gross written premium was expected to grow 6% – 9% in the FY12.
The group said it was well capitalised and that it would undertake a NZ$150 million bond offering for general corporate purposes.