Five year financial summary
| 2009 | 20081 | 2007 | 2006 | 2005 | |
|---|---|---|---|---|---|
| $m | $m | $m | $m | $m | |
| Gross written premium | 7,842 | 7,793 | 7,381 | 6,435 | 6,673 |
| Premium revenue | 7,718 | 7,765 | 7,207 | 6,537 | 6,561 |
| Outward reinsurance premium expense | (485) | (470) | (464) | (405) | (417) |
| Net premium revenue | 7,233 | 7,295 | 6,743 | 6,132 | 6,144 |
| Net claims expense | (5,370) | (5,155) | (4,474) | (3,900) | (4,090) |
| Underwriting expenses | (2,128) | (2,180) | (1,862) | (1,699) | (1,624) |
| Underwriting profit/(loss) | (265) | (40) | 407 | 533 | 430 |
| Net investment income on assets backing insurance liabilities | 780 | 432 | 360 | 310 | 516 |
| Insurance profit | 515 | 392 | 767 | 843 | 946 |
| Net investment income from equity holders' and external funds2 | (29) | 41 | 320 | 537 | 500 |
| Other income | 494 | 487 | 463 | 218 | 179 |
| Share of net profit/(loss) of associates | 8 | (3) | 5 | 2 | – |
| Finance costs | (87) | (101) | (119) | (86) | (69) |
| Corporate and administration expenses | (524) | (545) | (455) | (265) | (258) |
| Amortisation expenses and impairment charges of intangible assets and goodwill3 | (65) | (407) | (73) | (14) | (13) |
| Profit/(loss) before income tax | 312 | (136) | 908 | 1,235 | 1,285 |
| Income tax expense | (65) | (90) | (279) | (373) | (357) |
| Net profit/(loss) | 247 | (226) | 629 | 862 | 928 |
| Net profit attributable to minority interests | (66) | (35) | (77) | (103) | (117) |
| Net profit/(loss) attributable to equity holders of Insurance Australia Group Limited |
181 | (261) | 552 | 759 | 811 |
| Ordinary equity holders' equity ($ million) | 4,671 | 4,204 | 4,660 | 3,491 | 3,378 |
| Total assets ($ million) | 19,315 | 19,380 | 21,637 | 16,972 | 17,102 |
| Premium growth | |||||
| Gross written premium | 0.6% | 5.6% | 14.7% | (3.6%) | 3.8% |
| Net premium | (0.8%) | 8.2% | 10.0% | (0.2%) | 4.8% |
| Key ratios | |||||
| Loss ratio | 74.2% | 70.7% | 66.4% | 63.6% | 66.6% |
| Expense ratio | 29.4% | 29.9% | 27.6% | 27.7% | 26.4% |
| Combined ratio | 103.6% | 100.6% | 94.0% | 91.3% | 93.0% |
| Insurance margin4 | 7.1% | 5.4% | 11.4% | 13.7% | 15.4% |
| Share information | |||||
| Dividends per ordinary share—fully franked (cents) | 10.00 | 22.50 | 29.50 | 42.00 | 26.50 |
| Basic earnings per ordinary share (cents) | 9.32 | (14.11) | 32.79 | 47.66 | 49.31 |
| Ordinary share price at 30 June ($) (ASX: IAG) | 3.51 | 3.47 | 5.70 | 5.35 | 6.01 |
| Reset preference share price at 30 June ($) (ASX: IAGPA) | 100.50 | 85.00 | 99.80 | 101.80 | 103.90 |
| Reset exchangeable securities price at 30 June ($) (ASX: IANG) | 74.75 | 81.89 | 100.09 | 100.00 | 99.00 |
| Issued ordinary shares (million shares) | 2,071 | 1,878 | 1,794 | 1,595 | 1,594 |
| Issued reset preference shares (million shares) | 4 | 4 | 6 | 6 | 6 |
| Market capitalisation (ordinary shares) at 30 June ($ million) | 7,269 | 6,517 | 10,226 | 8,533 | 9,582 |
| Net tangible asset backing per ordinary share ($) | 1.16 | 0.93 | 0.90 | 1.22 | 1.18 |
- 1The financial information for the 2008 year has been reclassified to provide comparable figures for the segment reporting adopted in 2009. This includes reallocation of corporate expenses and reinsurance to the operating divisions. All financial information prior to 2008 was prepared under IAG's previous classification.
- 2This included an unrealised gain on embedded derivatives of $69 million for 2008.
- 3This included impairment charges for acquired identifiable intangible assets and goodwill of $342 million for 2008.
- 4Insurance margin is a ratio of insurance profit over net premium revenue.