Progress against strategy
In July 2008, IAG outlined a refined corporate strategy designed to improve performance and deliver shareholder value. As part of that strategy, we outlined four priorities. This is what the Group delivered against those priorities 
We said we would
Improve our performance in our home markets of Australia and New Zealand
Our largest business, Australian Direct Insurance, increased GWP by 9.1% and insurance profit by 18% over last year.
We introduced new products and marketing campaigns, increased premiums
where required, improved underwriting discipline and reduced costs.
We launched a new online business, The Buzz, providing an additional channel for our customers to interact with us.
Initiatives were implemented to achieve a $130 million per annum run-rate of pre tax cost savings across our Australian operations.
Pursue selective international growth options—In Asia and other specialist opportunities
We increased our stake in our Malaysian general insurance joint venture, AmG Insurance.
We finalised our agreement with India's largest bank, the State Bank of India, to form a general insurance joint venture. This is on track to begin trading in calendar year 2010.
Our poorly performing UK mass market distribution businesses were sold in early calendar 2009, allowing us to focus on and grow our profitable specialist motor underwriter, Equity Red Star.
Implement a devolved operating model
Our new operating model was up and running by September 2008.
Under the new model, we created end to end businesses with the autonomy to manage their own brands and customers, putting control closer to the customer, to deliver superior experiences and performance.
Our corporate office now acts as a 'portfolio manager', ensuring capital and resources are allocated to deliver the best value.
Drive operational performance and execution
We simplified and strengthened the executive management team through a number of new appointments.
We refined and began to embed our values.
We invested in employee programs to drive engagement, improve internal performance and identify and grow the future leaders of the company.
We have adopted a 'balanced scorecard' methodology to drive individual performance and ensure every employee is aligned to common goals.