Insurance Australia Group Ltd · ASX:IAG
Insurance Australia — Shareholder Meeting (October 2014)
12 slides from Insurance Australia's shareholder meeting presentation, Oct 30, 2014
Slide 1: 2014 Annual General Meeting
For personal use only Thank you Brian and good morning ladies and gentlemen. I also welcome you here today and thank you for attending our AGM AGM. 2014 ANNUAL GENERAL MEETING 1
Slide 2: 2014 financial year overview
For personal use only The 2014 financial year was very significant for IAG and I am very proud of what we have achieved. We reported another year of strong financial performance. This result is further evidence of the rewards of the strategy that we have been consistently following, with its focus o
Slide 3: Key income statement measures improved
For personal use only As you can see from this slide, all of our key income statement measures improved: As Brian has already said, our Gross Written Premium, or GWP, grew by 3%, reflecting the low inflation environment in which we find ourselves. Our overall net profit after tax rose by nearly
Slide 4: Australia Direct business performance
For personal use only Our Australia Direct business continued to perform well. Its GWP was relatively flat flat, reflecting the end of Victorian Fire Services Levy collection and our decision to exit the Queensland CTP market, which between them reduced GWP by over $80 million. Its higher reported m
Slide 5: CGU intermediated business results
For personal use only Our Australian intermediated business, CGU, achieved pleasing results in an increasingly competitive environment. This business maintained its market position, with GWP growth of 2.8%, excluding the removal of the Victorian Fire Services Levy, and its reported margin was a litt
Slide 6: New Zealand business performance
For personal use only Our New Zealand business has continued to perform strongly. We saw sound local currency GWP growth of nearly 4%, while favourable foreign exchange movements led to reported growth of 17%. During the year we completed the integration of AMI, which delivered synergies higher than
Slide 7: Asia business performance
For personal use only In Asia, our established businesses in Thailand and Malaysia continued to perform well. GWP in Thailand contracted slightly, following the conclusion of the prior year’s government incentive scheme for car buyers, while the Malaysian business benefited from a full year’s contri
Slide 8: Capital position and dividend
For personal use only Turning now to our capital position and dividend. Our overall capital position remains strong, with both of our key regulatory capital measures sitting above our targeted long term benchmarks. And as Brian has already said, the Board determined to pay an increased final dividen
Slide 9: Non-financial and sustainability measures
For personal use only In addition to our strong financial results, we also continued to perform well on a range of non-financial measures that reflect our business sustainability focus. Our community investment has increased as we continue to seek out and support opportunities that align with our pr
Slide 10: Wesfarmers acquisition and new operating model
For personal use only The Wesfarmers acquisition and our new Australian operating model are key to the next phase of our growth. We completed the acquisition of the former Wesfarmers business on 30 June this year and we are very pleased with the quality of this business. It is a highly complementary
Slide 11: New Australian operating model and synergies
For personal use only Our move to a new operating model in Australia will allow us to better respond to the changing expectations and behaviours of our customers, and will ensure we remain fit for the future. future IAG now has three divisions in Australia, with our Enterprise Operations business pr
Slide 12: FY2015 outlook and guidance
For personal use only Turning now to the current year. I’m pleased to say that in the opening months of the 2015 financial year, we have seen a continuation of our strong operating performance and we believe we are well-placed to deliver on our full year guidance guidance. We anticipate GWP growth i
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