IAG

Insurance Australia Group Limited (IAG) is an Australian multinational general insurance company headquartered in Sydney, Australia. Founded in 1999, it is the largest insurer in Australia and New Zealand. The company's segments lude Direct Insurance Australia (NRMA, CGU, 50% of revenue), Intermediated Insurance Australia (brokered products), and New Zealand (NZI, AMI). IAG operates in Australia, New Zealand, and Asia with 13,650 employees, underwriting $14 billion in premiums annually through brands like NRMA, CGU, and WFI. Its supply chain involves third-party reinsurers and tech vendors, with TPRM per the 2024 Annual Report emphasizing Solvency II, GDPR, and ESG for data security and risk management. The company invests in digital claims processing. In fiscal year 2024, IAG reported revenues of A$12.45 billion ($8.2 billion), up 2% from 2023, with net ome of A$771 million, driven by 5% premium growth in personal lines.