All financial information for 2004 was prepared under previous Australian Accounting Standards (before applying International Financial Reporting Standards).
| 2008 $M |
2007 $M |
2006 $M |
2005 $M |
2004 $M |
|
|---|---|---|---|---|---|
| Gross written premium | 7,793 | 7,381 | 6,435 | 6,673 | 6,427 |
| Gross earned premium | 7,765 | 7,207 | 6,537 | 6,561 | 6,265 |
| Reinsurance expense | (470) | (464) | (405) | (417) | (402) |
| Net earned premium | 7,295 | 6,743 | 6,132 | 6,144 | 5,863 |
| Net claims expense | (5,155) | (4,474) | (3,900) | (4,090) | (3,815) |
| Underwriting expenses | (2,124) | (1,862) | (1,699) | (1,624) | (1,500) |
| Underwriting profit | 16 | 407 | 533 | 430 | 548 |
| Investment income on assets backing insurance liabilities | 432 | 360 | 310 | 516 | 244 |
| Insurance profit | 448 | 767 | 843 | 946 | 792 |
| Investment income from equity holders’ and external funds1 | 41 | 320 | 537 | 500 | 508 |
| Other operating revenue | 487 | 463 | 218 | 179 | 216 |
| Share of net profit/(loss) of associates | (3) | 5 | 2 | – | – |
| Finance costs | (101) | (119) | (86) | (69) | (57) |
| Corporate and administration expenses | (601) | (455) | (265) | (258) | (268) |
| Amortisation expenses and impairment charges of intangible assets and goodwill2 |
(407) | (73) | (14) | (13) | (118) |
| Financial services and life insurance result (net) | – | – | – | – | 18 |
| Gain on disposal of ClearView retirement services | – | – | – | – | 61 |
| Profit/(loss) before income tax | (136) | 908 | 1,235 | 1,285 | 1,152 |
| Income tax expense | (90) | (279) | (373) | (357) | (346) |
| Net profit/(loss) | (226) | 629 | 862 | 928 | 806 |
| Net profit attributable to minority interests | (35) | (77) | (103) | (117) | (141) |
| Net profit/(loss) attributable to equity holders of Insurance Australia Group Limited | (261) | 552 | 759 | 811 | 665 |
| Ordinary equity holders’ equity ($ million) | 4,204 | 4,660 | 3,491 | 3,378 | 2,999 |
| Total assets ($ million) | 19,380 | 21,637 | 16,972 | 17,102 | 16,291 |
| Premium growth | |||||
| Gross written | 5.6% | 14.7% | (3.6%) | 3.8% | 24.8% |
| Net earned | 8.2% | 10.0% | (0.2%) | 4.8% | 26.5% |
| Key ratios | |||||
| Loss ratio | 70.7% | 66.4% | 63.6% | 66.6% | 65.1% |
| Expense ratio | 29.1% | 27.6% | 27.7% | 26.4% | 25.6% |
| Combined ratio | 99.8% | 94.0% | 91.3% | 93.0% | 90.7% |
| Insurance margin3 | 6.1% | 11.4% | 13.7% | 15.4% | 13.5% |
| After tax return on ordinary equity4 | (5.9%) | 13.5% | 22.1% | 24.5% | 21.1% |
| Share information | |||||
| Dividends per ordinary share—fully franked (cents) | 22.50 | 29.50 | 42.00 | 26.50 | 22.00 |
| Basic earnings per ordinary share (cents) | (14.29) | 32.79 | 47.66 | 49.31 | 37.87 |
| Ordinary share price at 30 June ($) (ASX: IAG) | 3.47 | 5.70 | 5.35 | 6.01 | 5.00 |
| Reset preference share price at 30 June ($) (ASX: IAGPA) | 85.00 | 99.80 | 101.80 | 103.90 | 104.70 |
| Reset exchangeable securities price at 30 June ($) (ASX: IANG) | 81.89 | 100.09 | 100.00 | 99.00 | n/a |
| Issued ordinary shares (million shares) | 1,878 | 1,794 | 1,595 | 1,594 | 1,591 |
| Issued reset preference shares (million shares) | 4 | 6 | 6 | 6 | 6 |
| Market capitalisation (ordinary shares) at 30 June ($ million) | 6,517 | 10,226 | 8,533 | 9,582 | 7,954 |
| Net tangible asset backing per ordinary share ($) | 0.93 | 0.90 | 1.22 | 1.18 | 0.96 |
