IAG New Zealand’s annual profit falls 23% despite adding 80,000 customers
IAG New Zealand's annual insurance profit dropped 23% year-on-year, though the insurer added 80,000 new customers and benefited from lower natural disaster costs.
IAG New Zealand reported a 23% decline in annual insurance profit despite growing its customer base by 80,000 and facing lower natural disaster-related expenses than expected. The insurer's chief executive said roughly a third of customers received premium reductions during the June financial year. The CEO expressed concern about keeping insurance affordable.
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IAG NZ annual insurance profit falls despite customer growth
IAG New Zealand's annual insurance profit drops 23%, despite 80,000 new customers and natural disaster-related costs being lower than anticipated
interest.co.nz
'I absolutely don't want insurance to become unaffordable,' IAG NZ CEO says
IAG NZ boss Phil Gibson says 'roughly a third' of customers received premium reductions during the June year