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

$8.68

03 Sep
2025

-0.100

OPEN

$8.78

-1.14%

HIGH

$8.82

4,359,651

LOW

$8.67

TARGET
$9.034 4.1% upside
Franking for last dividend paid out: 40%
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 44.5 xxx
DPS (cps) xxx 31.0 27.3 xxx
EPS Growth xxx 54.1% - 22.5% xxx
DPS Growth xxx 14.8% - 11.9% xxx
PE Ratio xxx N/A 19.4 xxx
Dividend Yield xxx N/A 3.2% xxx
Div Pay Ratio(%) xxx 53.9% 61.3% xxx

Dividend yield today if purchased 3 years ago: 6.74%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 3.58

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: 29/08 - ex-div 17c (franking 50%)

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2025 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

0.3

No. Of Recommendations

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

Citi

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Macquarie

xx/xx/xxxx

3

xxxxxxx

$xx.xx

xx.xx%

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UBS

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Morgan Stanley

14/08/2025

3

Equal-weight

$8.45

-2.65%

Morgan Stanley highlights Insurance Australia Group's FY25 insurance profit met expectations but was helped by $100m in reinsurance profit commissions, adding around 100bps to the insurance margin.

The broker notes commissions are booked conservatiely and has high confidence of $100m recurrence in FY26. The broker sees scope for long-term perils commissions to occur even if Catastrophe budget is met, due to a sliding scale structure

In FY25, both motor inflation and home inflation moderated, and while it remained strong, the broker sees limited margin expansion going forward. Overall, the broker forecasts 4.1% gross written premium growth in FY26. 

FY26-28 cash net profit forecasts lifted by 1% on higher underwriting profit, offset partly by lower investment income.

Equal-weight. Target rises to $8.45 from $8.35. Industry View: In-Line.

FORECAST
Morgan Stanley forecasts a full year FY26 dividend of 28.00 cents and EPS of 41.80 cents.
Morgan Stanley forecasts a full year FY27 dividend of 33.00 cents and EPS of 44.80 cents.

Ord Minnett

xx/xx/xxxx

-1

xx xxxxxx

xx.xx%

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Morgans

xx/xx/xxxx

4

xxxxxxxxx xx xxxx xxxx xxxx

$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

18/08/2025

3

Neutral

$8.50

-2.07%

Jarden notes Insurance Australia Group reported a strong FY25 result, with reported net profit beating its forecast by 2.3% and the consensus by 3.4%.

The insurance trading margin met the top end of guidance range, thanks to a beat on underlying insurance trading ratio margin, natural hazards benefit and reserve release. Gross written premium growth was 4.3% and the insurer guided to low to mid-single digit growth in FY26.

The broker sees modest margin deterioration in the near term due to lower investment yield but sees cost-out programs supportive of margins from FY27.

FY26 EPS forecast lifted by 0.1% and FY27 by 1%. Neutral. Target rises to $8.50 from $8.45.

FORECAST
Jarden forecasts a full year FY26 dividend of 32.00 cents and EPS of 42.80 cents.
Jarden forecasts a full year FY27 dividend of 34.00 cents and EPS of 46.20 cents.
Access Extra Coverage Research History >

IAG STOCK CHART

FNArena News on IAG

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Australian Broker Call *Extra* Edition – Aug 18, 2025

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