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

$7.57

28 May
2026

-0.120

OPEN

$7.60

-1.56%

HIGH

$7.63

4,617,604

LOW

$7.47

TARGET
$8.225 8.7% 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 42.6 xxx
DPS (cps) xxx 31.0 30.0 xxx
EPS Growth xxx 54.1% - 25.9% xxx
DPS Growth xxx 14.8% - 3.2% xxx
PE Ratio xxx N/A 18.0 xxx
Dividend Yield xxx N/A 3.9% xxx
Div Pay Ratio(%) xxx 53.9% 70.5% xxx

Dividend yield today if purchased 3 years ago: 5.95%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 4.05

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

0.3

No. Of Recommendations

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

Citi

xx/xx/xxxx

3

xxxxxxx

$xx.xx

xx.xx%

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Macquarie

xx/xx/xxxx

1

xxxxxxxxxx

$xx.xx

xx.xx%

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UBS

13/05/2026

1

Buy

$8.80

16.25%

Insurance Australia Group announced its new Ambition 2030 strategy aiming to grow gross written premium mid-single digit and raise its insurance trading ratio margin to 15%-plus.

UBS notes the new targets are dependent on the insurer retaining market share, which is an essential aspect of preparing for agentic AI disruption.

Gross written premium target of $25bn-plus infer around 5.4% p.a. underlying growth from FY26-FY30. Australia is anticipated to grow by 6% p.a. and NZ by 5% p.a.

The broker views there to be upside to consensus EPS forecasts and retains an "undemanding" multiple of 15.1x FY27 earnings, a discount of some -11% to the stock's historical valuation.

Insurance Australia Group remains the top pick for UBS across Australian general insurance. Buy rated. Target rises to $8.80 from $8.70.

FORECAST
UBS forecasts a full year FY26 dividend of 27.00 cents and EPS of 42.00 cents.
UBS forecasts a full year FY27 dividend of 34.00 cents and EPS of 49.00 cents.

Ord Minnett

xx/xx/xxxx

-1

xx xxxxxx

xx.xx%

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Morgan Stanley

xx/xx/xxxx

5

xxxxxxxxxxx

$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

14/05/2026

2

Overweight

$8.00

5.68%

Jarden maintains an Overweight rating for Insurance Australia Group and lifts the target price to $8.00 from $7.90 following the insurer's Ambition 2030 strategy update.

The strategy framework is described as credible, with structural margin upside supported by quota share profit commissions and perils cover design.

Headline targets for FY30 include gross written premium exceeding $25bn and return on equity of at least 15%, though the growth trajectory remains contingent on ACCC clearance for the RACWA acquisition.

Earnings per share forecasts have been revised to 42.9c in FY26, 46.8c in FY27, and 48.6c in FY28 to reflect a higher underlying insurance trading margin.

Potential catalysts include cost reductions from artificial intelligence scaling, while uncertainty remains regarding claims inflation and risks associated with regulatory approvals.

FORECAST
Jarden forecasts a full year FY26 dividend of 33.00 cents and EPS of 42.90 cents.
Jarden forecasts a full year FY27 dividend of 34.00 cents and EPS of 46.80 cents.
Access Extra Coverage Research History >

IAG STOCK CHART

FNArena News on IAG

1
Weekly Ratings, Targets, Forecast Changes – 22-05-26

May 25 2026 - Weekly Reports
2
Rudi’s View: Focus On El Nino

May 21 2026 - Rudi's View
3
Australian Broker Call *Extra* Edition – May 14, 2026

May 14 2026 - Daily Market Reports
4
Australian Broker Call *Extra* Edition – Apr 29, 2026

Apr 29 2026 - Daily Market Reports
5
Next Week At A Glance – 27-24 Apr 2026

Apr 24 2026 - Weekly Reports

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