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

$6.44

04 Mar
2026

-0.170

OPEN

$6.55

-2.57%

HIGH

$6.57

9,148,094

LOW

$6.44

TARGET
$8.45 31.2% 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 44.2 xxx
DPS (cps) xxx 31.0 30.5 xxx
EPS Growth xxx 54.1% - 23.1% xxx
DPS Growth xxx 14.8% - 1.6% xxx
PE Ratio xxx N/A 14.8 xxx
Dividend Yield xxx N/A 4.6% xxx
Div Pay Ratio(%) xxx 53.9% 69.0% xxx

Dividend yield today if purchased 3 years ago: 6.54%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 4.73

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

0.8

No. Of Recommendations

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

UBS

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Morgan Stanley

xx/xx/xxxx

3

xxxxx-xxxxxx

$xx.xx

xx.xx%

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Macquarie

13/02/2026

1

Outperform

$9.00

39.75%

Insurance Australia Group has downgraded gross written premium growth and Insurance Profit guidance for FY26 as RACQ catastrophes slipped between reinsurance covers -- a gap which has now closed, Macquarie notes.

IAG's interim dividend was flat year on year and the insurer announced a buy-back of "up to $200m" which could be increased with delays in RACWA.

At current valuations, Macquarie believes the stock is cheap, with earnings (and dividends) quarantined in 2H26 and reinsurance costs protected for the next three years. The stock is trading at a -24% discount to global peers with similar reinsurance structures.

Target rises to $9.00 from $8.90, Outperform retained.

FORECAST
Macquarie forecasts a full year FY26 dividend of 30.00 cents and EPS of 43.60 cents.
Macquarie forecasts a full year FY27 dividend of 32.00 cents and EPS of 45.70 cents.

Citi

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Ord Minnett

xx/xx/xxxx

-1

xx xxxxxx

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

17/02/2026

2

Overweight

$8.10

25.78%

The first half result from Insurance Australia Group was underwhelming despite net profit exceeding expectations, which Jarden attributes to weak underlying trends. Specifically, gross written premium of 6% was well below guidance of 10%.

Home insurance grew in the mid-high single digits while motor was subdued with low single-digit growth. The outlook is still supported, the broker contends, by retail ex-RACQ and NZ margin expansion.

While continuing to expect AI will weigh on insurance stocks in the near term, Jarden assesses the risks to earnings appear minimal. Overweight. Target reduced to $8.10 from $8.20.

FORECAST
Jarden forecasts a full year FY26 dividend of 30.00 cents and EPS of 42.60 cents.
Jarden forecasts a full year FY27 dividend of 33.00 cents and EPS of 45.80 cents.
Access Extra Coverage Research History >

IAG STOCK CHART

FNArena News on IAG

1
Australian Broker Call *Extra* Edition – Feb 17, 2026

Feb 17 2026 - Daily Market Reports
2
FNArena Corporate Results Monitor – 13-02-2026

Feb 13 2026 - Australia
3
Rudi’s View: Many February Uncertainties

Feb 04 2026 - Rudi's View
4
Rudi’s View: Key Picks & Sector Favourites

Jan 22 2026 - Rudi's View
5
Weekly Ratings, Targets, Forecast Changes – 16-01-26

Jan 19 2026 - Weekly Reports

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