IAG lifts full year guidance on higher reserve releases
After a tough year of natural catastrophes Sydney-headquartered insurer IAG has raised its margin guidance range for the full financial year after announcing higher than expected reserve releases.
The margin guidance range has been lifted from 10.5-12.5% to 13.5-15.5% for the financial year ending on 30 June.
The reserve releases, which need to be held for three years, predominantly relate to
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