FINWIRES · TerminalLIVE
FINWIRES

ASX:IAG

13 stories mentioning ASX:IAG

Every FINWIRES story that references ASX:IAG, newest first.

Asia

Insurance Australia Group Makes Investment in Employee Wellbeing Platform

Insurance Australia Group (ASX:IAG) invested in employee wellbeing platform Sonder through its corporate venture capital arm Firemark Ventures, the insurer said in a statement on Monday.The investment builds on the company's use of Sonder to support its workforce and allows it to extend the capability to customers during high-risk incidents and natural disasters, the statement said.Insurance Australia Group shares fell 2% in midday trade on Monday.

ASX:IAG
Asia

New Zealand's Financial Markets Authority Urges Insurers to Consider Consumer Risks in Benefits, Campaigns

New Zealand's Financial Markets Authority (FMA)on Thursday urged insurers to adopt a proactive and outcome-focused approach to manage risks associated with short-term sales campaigns and incentives, pointing to potential conflicts of interest that can jeopardize the fair treatment of consumers.Although the majority of insurers have processes in place to identify and manage such risks, their approaches to risk mitigation vary, the FMA said.The regulator outlined multiple areas of focus, including the need for greater stakeholder involvement when designing incentives, clear governance and approval processes, enhanced monitoring of how incentives impact consumer outcomes, and more use of proactive reviews as opposed to relying only on complaints or feedback.According to the FMA, the risks include insurers potentially recommending a product or value of insurance cover that is not suited to the customer's needs, or recommending a policy replacement just to increase the chance of the adviser receiving a soft commission."These benefits and campaigns, or soft commissions, have a place, but insurers should actively consider these risks to ensure their fair conduct programs are designed to support fair treatment of consumers," said Michael Hewes, the FMA's director of deposit-taking insurance and advice."We want these insights to support insurers to take consumers' interests into account when designing, offering, and managing benefits and campaigns," Hewes added.

ASX:IAGASX:QBEASX:TWRNZE:TWR
Asia

ASX Preview: Australian Shares Set to Inch Up as Oil Climbs on US Strikes Against Iran; IGO Reports Fire at CGP3 Lithium Plant in Western Australia

Australian shares are poised to inch up on Wednesday as oil prices climbed after US forces struck Iran, escalating Middle East tensions and raising concerns over potential supply disruptions through the Strait of Hormuz.Overnight, the S&P 500 and the Nasdaq Composite fell 0.3% and 1% respectively, while the Dow Jones Industrial Average rose 0.2%.In the macroeconomy, the ANZ-Roy Morgan Australian consumer confidence rose 2 points to 70.8 in the week of June 1 to June 7, ANZ reported Tuesday.Australia's final building approvals report is due at 11:30 am Sydney time.In corporate news, IGO (ASX:IGO) said a fire broke out at its chemical grade plant 3 at the Greenbushes lithium operation on Tuesday and was extinguished without causing any injuries.Insurance Australia Group's (ASX:IAG) IAG New Zealand division on Wednesday urged New Zealand's government to develop a long-term roadmap to cut natural hazard risk, which it said is rising faster than the country's ability to manage it.Australia's benchmark index fell 0.2% or 20.9 points to close at 8,604.20 on Tuesday.

ASX 200ASX:IAGASX:IGO
Asia

Insurance Australia Group Urges New Zealand to Develop Long-Term Roadmap to Cut Natural Hazard Risk

Insurance Australia Group's (ASX:IAG) IAG New Zealand division on Wednesday urged New Zealand's government to develop a long-term roadmap to cut natural hazard risk, which it said is rising faster than the country's ability to manage it.A new report from IAG has revealed "concerning gaps in how New Zealand plans, builds, invests and governs to reduce the impacts of its earthquakes, floods and cyclones."The country's current approach is fragmented and poorly coordinated, with councils expected to manage the burden in the absence of necessary tools or funding, while repeated disasters are set erode growth and public finances without further reform, the report found.It identifies dozens of gaps in New Zealand's approach to risk reduction, including a lack of both consistent rules and reliable hazard and risk information to support decisions.Disasters have cost New Zealand at least NZ$4.2 billion a year over the past 15 years, but during that time, nearly all the spending has been geared toward response and recovery rather than reducing the impact of hazards, IAG New Zealand said.

ASX:IAG
Asia

ASX Preview: Australian Shares Set to Rise as Oil Falls on US-Iran Ceasefire Signal; Dexus Requests Trading Halt Ahead of Court Decision

Australian shares are poised to rise on Friday as oil prices fell after reports that the US and Iran had agreed in principle to extend a ceasefire and reopen shipping through the Strait of Hormuz, easing fears of supply disruption even as officials said the deal had yet to be finalized.Overnight, the S&P 500, the Nasdaq Composite, and the Dow Jones Industrial Average rose 0.6%, 0.9%, and 0.1%, respectively.In the macroeconomy, the Reserve Bank of Australia's housing and private sector credit report is due at 11:30 am Sydney time.In corporate news, Dexus (ASX:DXS) requested a trading halt on the Australian Securities Exchange from Friday, pending a New South Wales Supreme Court decision.Insurance Australia Group (ASX:IAG) said its subsidiary, Insurance Australia, has reached a confidential settlement with Greensill Bank and its insolvency administrator, resolving Federal Court proceedings relating to allegedly issued trade credit insurance policies.Australia's benchmark index fell 1.4% or 124.8 points to close at 8,592.90 on Thursday.

ASX 200ASX:DXSASX:IAG
Asia

Insurance Australia Group's Unit Settles Federal Court Dispute With Greensill Bank

Insurance Australia Group (ASX:IAG) said its subsidiary, Insurance Australia, has reached a confidential settlement with Greensill Bank and its insolvency administrator, resolving Federal Court proceedings relating to allegedly issued trade credit insurance policies, according to a Friday filing with the Australian bourse.The company said the settlement is not expected to materially affect its financial position or fiscal year 2026 results, the filing said.The Greensill Bank case was part of wider litigation involving policies allegedly issued through BCC Trade Credit, with claims in that segment amounting to around AU$4 billion plus interest, per the filing.Remaining proceedings initiated by Credit Suisse and White Oak entities, involving claims of around AU$3 billion plus interest, are still ongoing and are being defended by Insurance Australia, the filing added.

ASX:IAG
Asia

ASX Biggest Losers

Here are the ASX-listed companies with the biggest losses.Insurance Australia Group (ASX:IAG): -4%, AU$7.82Block (ASX:XYZ): -3%, AU$96.49Xero (ASX:XRO): -2%, AU$74.65Wisetech Global (ASX:WTC): -1%, AU$37.11Goodman Group (ASX:GMG): -1%, AU$30.44Origin Energy (ASX:ORG): -1%, AU$10.95Telstra Group (ASX:TLS): -1%, AU$5.39APA Group (ASX:APA): -1%, AU$10.20QBE Insurance Group (ASX:QBE): -1%, AU$23.65Meridian Energy (ASX:MEZ): -1%, AU$4.81

ASX 200ASX:APAASX:GMGASX:IAGASX:MEZASX:ORGASX:QBEASX:TLSASX:WTCASX:XROASX:XYZ
Asia

ASX Preview: Australian Shares Set to Rise as Oil Surges on Middle East Tensions; Life360 Posts Lower Q1 Earnings, Higher Revenue

Australian shares are poised to rise on Tuesday as oil prices surged above $104 a barrel amid escalating Middle East tensions, after US President Donald Trump warned that a fragile Iran ceasefire was "on life support" following stalled negotiations and continued disruption to shipping through the Strait of Hormuz.Overnight, the S&P 500 and the Dow Jones Industrial Average each rose 0.2%, while the Nasdaq Composite gained 0.1%.In the macroeconomy, the ANZ-Roy Morgan Australian consumer confidence fell 3.1 points to 64.1 in the week of May 4 to May 10, ANZ reported Tuesday.Investors are eyeing the release of Westpac consumer confidence and NAB business confidence reports.In corporate news, Life360 (ASX:360) reported Tuesday first-quarter earnings of $0.03 per share on revenue of $143.1 million, compared with earnings of $0.05 on revenue of $103.6 million a year earlier.Insurance Australia Group (ASX:IAG) is targeting gross written premiums of over AU$25 billion, a more than 15% return on equity, and high single-digit earnings per share growth per year by 2030.Australia's benchmark index fell 0.5% or 42.6 points to close at 8,701.80 on Monday.

ASX 200ASX:360ASX:IAG
Asia

Insurance Australia Group Targets Gross Written Premiums of AU$25 Billion by 2030 Under Refreshed Strategy

Insurance Australia Group (ASX:IAG) is targeting gross written premiums of over AU$25 billion, a more than 15% return on equity, and high single-digit earnings per share growth per year by 2030, according to a Tuesday filing with the Australian bourse.The company disclosed long-term financial targets as part of its Ambition 2030 strategy to strengthen its position in the insurance markets of Australia and New Zealand, to serve more than 11 million customers by 2030.The firm will execute the strategy by focusing on retail and intermediated brands and distribution channels, deep customer data, modern technology platforms, and an integrated claims supply chain, it said.

ASX:IAG
Asia

Australian Prudential Regulation Authority Warns Financial Sector Over AI-Related Risks

The Australian Prudential Regulation Authority (APRA) on Thursday called on the financial sector to enhance its management of AI-related risks, warning that information security practices are struggling to keep up with the speed of the technology's adoption.In a letter to the industry, the regulator outlined the findings of a review it launched last year, noting that the growing use of advanced AI is creating multiple new financial and operational vulnerabilities for banks, insurers, and superannuation trustees."Frontier AI models such as Anthropic's Claude Mythos, which could enhance the discovery of vulnerabilities by bad actors, are expected to further increase the probability, speed, and scale of cyber attacks," APRA said.The regulator found that financial corporates have a high interest in the potential benefits of AI usage, but in many cases lack the technical knowledge to effectively manage the associated risks.The APRA is not proposing to introduce additional requirements at this stage but expects to see a "significant improvement" in how the financial sector approaches AI-related risk management and governance.

ASX:ANZASX:CBAASX:IAGASX:NABASX:QBEASX:WBC
Asia

Insurance Australia Group's IAG New Zealand Says Storm-Related Claims Surge 256%

Insurance Australia Group's (ASX:IAG) IAG New Zealand division said Tuesday it received 33,174 weather-related claims between autumn 2025 and summer 2026 as a result of 46 storms during the period.That represents a 256% increase in storm-related claims compared with the year-ago period, when the company recorded 9,324 claims from 29 storms in New Zealand, and translates into roughly one storm every eight days."Simply put, our data indicates that storms are arriving more often and with greater intensity," said Phil Gibson, CEO of IAG New Zealand's AMI, State and NZI insurance brands. He noted that a storm typically affected parts of the country once every 19 days over a 15-year timeline.The October 2025 windstorm in Southland generated 5,289 claims, the February 2026 storm in Wellington resulted in 3,354 claims, and the April 2025 ex‑tropical cyclone Tam in Auckland generated 3,281 claims, ranking as the the top three storms by claims volume over the past 12 months.

ASX:IAG
Asia

Insurance Australia Group's Proposed Acquisition of RAC Insurance Headed for Phase 2 Review

Insurance Australia Group's (ASX:IAG) proposed acquisition of RAC Insurance has the potential to substantially reduce competition and therefore necessitates an in-depth phase 2 review, the Australian Competition and Consumer Commission (ACCC) said Friday.The proposed deal would merge two of the largest insurers in Western Australia, the regulator said, adding that it is also considering what impact the deal might have on smash repair services."We consider the acquisition could substantially lessen competition in both the supply of motor vehicle insurance and the supply of home and contents insurance in Western Australia," ACCC Chair Gina Cass-Gottlieb said.Insurance Australia Group acknowledged the ACCC's decision to proceed with a phase 2 review, saying that the company remains confident in its position and will continue to work with the competition commission throughout the process.The phase 2 investigation is expected to take up to 90 business days, Insurance Australia Group added.

ASX:IAG
Asia

ASX Preview: Australian Shares to Fall as Middle East Tensions Ease Tentatively; Alcoa Posts Lower Q1 Adjusted Earnings, Revenue

Australian shares are poised to fall on Friday as geopolitical tensions in the Middle East ease only tentatively, with markets digesting reports that the US and Iran are exploring a potential ceasefire extension alongside ongoing uncertainty over the Strait of Hormuz and global energy flows.Overnight, the S&P 500, the Nasdaq Composite, and the Dow Jones Industrial Average rose 0.3%, 0.4%, and 0.2%, respectively.In the macroeconomy, investors are eyeing the release of the Westpac leading index and the S&P Global flash manufacturing, services, and composite purchasing managers' index reports next week.In corporate news, Alcoa (ASX:AAI) reported Friday first-quarter adjusted earnings of $1.40 per share on revenue of $3.19 billion, compared with adjusted earnings of $2.15 on revenue of $3.37 billion a year earlier.Insurance Australia Group's (ASX:IAG) proposed acquisition of RAC Insurance has the potential to substantially reduce competition and therefore necessitates an in-depth phase 2 review, the Australian Competition and Consumer Commission (ACCC) said Friday.Australia's benchmark index fell 0.3% or 23.7 points to close at 8,955 on Thursday.

ASX 200ASX:AAIASX:IAG