Morningstar

Insurance Australia Group Ltd IAG

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Stock XASX Rating as of
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Company Report

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Premium Rate Rises and Investment Income Underpin Insurance Australia's Margin Improvement

Nathan Zaia

Insurance Australia Group is a general insurer with around AUD 16 billion of annual gross written premiums operating in Australia and New Zealand. It is a custodian of well-known heritage brands that include NRMA, CGU, SGIO, SGIC, and Swann Insurance in Australia and State, NZI, AMI, and Lumley in New Zealand. Some brands are specific to certain states, but at a group level the insurer carries concentrated weather and earthquake risk in Australia and New Zealand.

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Price vs Fair Value

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IAG is trading at a 212% premium.
Price
A$7.36
Fair Value
A$2.50
Uncertainty
Medium
1-Star Price
A$6.86
5-Star Price
A$2.93
Economic Moat
Ddtr
Capital Allocation
Fplhnty

Bulls Say, Bears Say

Bulls

Underwriting discipline, productivity initiatives, and a focus on profitable growth will see the firm consistently return its cost of capital.

Bears

Competition could increase and win market share from incumbents, such as Insurance Australia Group, by offering lower premiums, regardless of the impact on short-term profits and returns.

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Trading Information

Previous Close Price
—
Day Range
—–—
52-Week Range
—–—
Bid/Ask
— / —
Market Cap
—
Volume/Avg
— / —

Key Statistics

Price/Earnings (Normalized)
20.06
Price/Sales
1.15
Dividend Yield (Trailing)
3.67%
Dividend Yield (Forward)
4.62%
Total Yield
6.21%

Company Profile

Insurance Australia Group is the biggest domestic general insurer by gross written premium operating in Australia and New Zealand. The key general insurance markets in which the company operates are home and contents, motor vehicle and compulsory third party, and short-tail commercial. Insurance Australia Group sells insurance under several brands, including NRMA, CGU, SGIO, SGIC, WFI, and Swann in Australia and NZI, State, AMI, and Lumley in New Zealand.
Sector
Financial Services
Industry
Insurance - Property & Casualty
Stock Style Box
Large Core
Total Number of Employees
12,359
Website
https://www.iag.com.au

Competitors

Valuation

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Metric
IAG
ALV
SUN
Price/Earnings (Normalized)
 20.0614.8723.45
Price/Book Value
 2.622.091.66
Price/Sales
 1.151.161.72
Price/Cash Flow
 10.135.929.83
Price/Earnings
IAG
ALV
SUN

Financial Strength

Metric
IAG
ALV
SUN
Quick Ratio
 ———
Current Ratio
 ———
Interest Coverage
 9.06—3.61
Quick Ratio
No chart available

Profitability

Metric
IAG
ALV
SUN
Return on Assets (Normalized)
 3.17%1.04%1.00%
Return on Equity (Normalized)
 13.61%17.92%8.23%
Return on Invested Capital (Normalized)
 10.41%14.60%1.41%
Return on Assets
IAG
ALV
SUN

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