Australia's IAG profit more than halves in FY20 due to severe natural perils


Insurance Australia Group (IAG) saw its profit plummet nearly 60 percent in the financial year 2020 after experiencing a challenging second half due to high natural perils, a deterioration in long tail reserving in Australia, and extreme investment market volatility triggered by the COVID-19 pandemic.

IAG, 2020 Results, GWP, Catastrophe, Natural perils, Coronavirus, Insurance, Reinsurance, Peter Harmer, Australia, New Zealand

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