INSURANCE AUSTRALIA GROUP LIMITED (IAG)
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IAG

IAG - INSURANCE AUSTRALIA GROUP LIMITED

FNArena Sector : Insurance
Year End: June
GICS Industry Group : Insurance
Debt/EBITDA: N/A
Index: ASX50 | ASX100 | ASX200 | ASX300 | ALL-ORDS

Insurance Australia Group is an insurance company formed by the demutualisation of the NRMA Insurance business in July 2000. It is not a customer-facing brand, but an umbrella organisation that holds many well known insurance brands in Australia, NZ and Asia, incl NRMA Insurance and CGU.

LAST PRICE CHANGE +/- CHANGE % VOLUME

$7.44

26 Mar
2026

-0.040

OPEN

$7.42

-0.53%

HIGH

$7.51

9,624,064

LOW

$7.39

TARGET
$8.113 9.0% upside
Franking for last dividend paid out: 25%
OTHER COMPANIES IN THE SAME SECTOR
AUB . CVW . FCL . GDG . HLI . MPL . NHF . NOL . QBE . SDF . SUN . TWR .
FNARENA'S MARKET CONSENSUS FORECASTS
IAG: 1
Title FY24
Actual		 FY25
Actual		 FY26
Forecast		 FY27
Forecast
EPS (cps) xxx 57.5 44.3 xxx
DPS (cps) xxx 31.0 27.1 xxx
EPS Growth xxx 54.1% - 22.9% xxx
DPS Growth xxx 14.8% - 12.5% xxx
PE Ratio xxx N/A 16.8 xxx
Dividend Yield xxx N/A 3.7% xxx
Div Pay Ratio(%) xxx 53.9% 61.2% xxx

Dividend yield today if purchased 3 years ago: 6.78%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 4.17

Estimated Dividend Growth
(Average Of Past Three Years)

  %

Amount Invested

 $ 

Tell Me The Dividend After This Many Years
Past performance is no guarantee for the future. Investors should take into account that heavy swings in share price or exceptional circumstances (a la 2009) can have a significant impact on short term calculations and averages

Last ex-div: 21/08 - ex-div 19.00c (franking 40%)

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2026 FactSet UK Limited. All rights reserved
Title 202020212022202320242025
EPS Basic xxxxxxxxxxxxxxx57.5
DPS All xxxxxxxxxxxxxxx31.0
Sales/Revenue xxxxxxxxxxxxxxx17,708.0 M
Book Value Per Share xxxxxxxxxxxxxxx310.7
Net Operating Cash Flow xxxxxxxxxxxxxxx1,352.0 M
Net Profit Margin xxxxxxxxxxxxxxx7.67 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 202020212022202320242025
Return on Capital Employed xxxxxxxxxxxxxxx19.43 %
Return on Invested Capital xxxxxxxxxxxxxxx13.77 %
Return on Assets xxxxxxxxxxxxxxx5.23 %
Return on Equity xxxxxxxxxxxxxxx19.43 %
Return on Total Capital xxxxxxxxxxxxxxx23.13 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx-

Return on Capital Employed

Return on Invested Capital

Return on Assets

Return on Equity

Return on Total Capital

Free Cash Flow ex dividends

Title 202020212022202320242025
Short-Term Debt xxxxxxxxxxxxxxx81 M
Long Term Debt xxxxxxxxxxxxxxx2,876 M
Total Debt xxxxxxxxxxxxxxx2,957 M
Goodwill - Gross xxxxxxxxxxxxxxx2,824 M
Cash & Equivalents - Generic xxxxxxxxxxxxxxx2,253 M
Price To Book Value xxxxxxxxxxxxxxx2.91

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 202020212022202320242025
Capex xxxxxxxxxxxxxxx0.0 M
Capex % of Sales xxxxxxxxxxxxxxx0.00 %
Cost of Goods Sold xxxxxxxxxxxxxxx-
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx2,317 M
Research & Development xxxxxxxxxxxxxxx-
Investments - Total xxxxxxxxxxxxxxx11,954 M

Capex

Capex % of Sales

Cost of Goods Sold

Selling, General & Admin. Exp & Other

Research & Development

Investments - Total

EXPERT VIEWS
Display All Commentary

Sentiment Indicator

0.5

No. Of Recommendations

5
BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Macquarie

xx/xx/xxxx

1

xxxxxxxxxx

$xx.xx

xx.xx%

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Morgan Stanley

xx/xx/xxxx

5

xxxxxxxxxxx

$xx.xx

xx.xx%

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UBS

25/03/2026

1

Buy

$8.55

14.92%

UBS makes minor forecast revisions for Insurance Australia Group, lowering FY26 and FY27 EPS estimates by -0.6% and -2.7%, respectively. Changes reflect a weaker New Zealand dollar and higher minority interest margins over the medium term.

The broker notes its valuation is also impacted by a lower market PE multiple, contributing to the new price target of $8.55, down from $9.00. Unchanged Buy rating.

Insurance Australia Group and Suncorp Group have lost market share in Home and Motor to challengers, observe the analysts, declining to 48% in FY25 from 60% in FY15.

Challengers are now matching margins while sustaining stronger growth, aided by cross-subsidies within major pricing structures, explains UBS. AI-driven pricing is seen as increasing competition, requiring majors to refine underwriting and pricing strategies.

Upside potential, the analysts note, includes a 10% gross written premium (GW)P uplift by FY30 and 20% by FY35 if cross-subsidies are addressed.

FORECAST
UBS forecasts a full year FY26 dividend of 17.00 cents and EPS of 44.20 cents.
UBS forecasts a full year FY27 dividend of 29.00 cents and EPS of 48.40 cents.

Ord Minnett

xx/xx/xxxx

-1

xx xxxxxx

xx.xx%

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Citi

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Access Stockbroker Research History >
EXTRA COVERAGE
Display All Commentary

No. Of Recommendations

1

Please note: unlike Broker Call Report, BC Extra is not updated daily. The info you see might not be the latest. FNArena does its best to update ASAP.

BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Jarden

12/03/2026

2

Overweight

$8.10

8.87%

Jarden maintains Overweight ratings for domestic insurers and reiterates a preference for Insurance Australia Group versus Suncorp Group.

From a sector perspective, support is generated from a material reset of top-line market expectations and a re-acceleration of pricing in consumer lines as well as emerging stabilisation of the commercial market.

Evidence of a moderation in reinsurance rates into FY27 should provide further options for both carriers. The Insurance Australia Group target is steady at $8.10.
Access Extra Coverage Research History >

IAG STOCK CHART

FNArena News on IAG

1
Australian Broker Call *Extra* Edition – Mar 12, 2026

Mar 12 2026 - Daily Market Reports
2
Australian Broker Call *Extra* Edition – Feb 17, 2026

Feb 17 2026 - Daily Market Reports
3
FNArena Corporate Results Monitor – 13-02-2026

Feb 13 2026 - Australia
4
Rudi’s View: Many February Uncertainties

Feb 04 2026 - Rudi's View
5
Rudi’s View: Key Picks & Sector Favourites

Jan 22 2026 - Rudi's View

Latest Insurance News

1
Treasure Chest: AI Risks To Insurance Brokers

Feb 11 2026 - Treasure Chest
2
ASIC Watch: Ai Governance Tax Hits Insurers

Dec 22 2025 - Australia
3
Insurance Sector’s AI Challenges Have Arrived

Nov 03 2025 - Australia
4
Insurers To Pamper Shareholders With Buybacks

Jan 24 2025 - Australia
5
IAG Shares Breaking Out

Jan 21 2025 - Technicals
6
ESG Focus: The Little Big Things – 21-11-2024

Nov 21 2024 - ESG Focus
7
New-Look Suncorp Ready To Rumble

Nov 14 2024 - Australia
8
Steadfast’s Long March

Jul 02 2024 - Australia
9
AUB Group Shares Poised For Break-Out

Jun 13 2024 - Technicals
10
SMSFundamentals: Older People Are Life Insurers’ Future Challenge

Oct 26 2023 - SMSFundamentals