Insurance Australia Group Limited (IAG): Annual review 2008 -

IAG has a portfolio of general insurance businesses, with leading and established brands across its home markets of australia and new zealand, A growing presence in ASIA, and other specialist underwriting operations.

Portfolio Mix

Australia

our businesses
We have some of Australia’s leading general insurance businesses and iconic brands. We offer a range of products both direct to customers (through a network of branches, franchises and country service centres, as well as call centres and online) and through intermediary channels (brokers, authorised representatives, financial institutions and motor dealers).

MAJOR BRANDS

1 RACV is via a distribution relationship and underwriting joint venture with RACV Ltd.

1 RACV is via a distribution relationship and underwriting joint venture with RACV Ltd.

financial performance

Gross written premium

Net earned premium

Insurance result

Insurance margin

2008

$5,494m

$5,169m

$486m

9.4%

2007

$5,489m

$5,126m

$671m

13.1%

New Zealand

our businesses
We are NZ’s leading general insurance provider across both direct and intermediated channels, holding approximately 36% of the NZ general insurance market.

MAJOR BRANDS

financial performance

Gross written premium

Net earned premium

Insurance result

Insurance margin

2008

$974m

$845m

$(17)m

(2.0)%

2007

$968m

$860m

$86m

10.0%

United Kingdom

our businesses
We have a specialist general insurance underwriter in the UK, Equity Red Star. We are in the process of scaling back our mass market underwriting and distribution businesses.

MAJOR BRANDS

financial performance

Gross written premium

Net earned premium

Insurance result

Insurance margin

2008

$1,125m

$999m

$28m

2.8%

2007

$725m

$592m

$30m

5.1%

Asia

our businesses
IAG has a growing presence in Asia with general insurance interests in Thailand (NZI and Safety Insurance) and Malaysia (AmAssurance). We are also selectively pursuing growth options in India and China.