Insurance Post

IAG's first half pre-tax profit dips 6.4%

peter-harmer-iag

Australian giant IAG saw pre-tax profit fall to A$571m (£351m) in the first half of the 2017 financial year compared with A$610m in H1 2016.

In the six months to 31 December 2016, the insurer suffered from a rise in net natcat claims costs from A$278m (H1 2016) to A$420m - exceeding its allowance by A$80m with New Zealand's South Island

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