Insurance Australia Group Ltd · ASX:IAG
Insurance Australia — Shareholder Meeting (October 2015)
14 slides from Insurance Australia's shareholder meeting presentation, Oct 21, 2015
Slide 1: Welcome to the 2015 AGM
For personal use only Thank yyou Brian, and g good morning g ladies and g gentlemen. I add my welcome to you to our AGM, and thank you for attending. 1
Slide 2: 2015 financial year overview
For personal use only Despite challenging conditions, the 2015 financial year saw IAG’s businesses again perform strongly, as we continued ti d to t provide id greatt service i to t the th millions illi off customers t who h rely l on us every d day. Although we experienced a record claims cost from
Slide 3: Group performance: GWP growth and margin
For personal use only I’m very proud of the continued strong performance of our business. We grew our gross written premium by 17%, with the majority of this growth reflecting the first-time consolidation of the former Wesfarmers business. In 2015, our reported margin was lower than the previous yea
Slide 4: Personal Insurance
For personal use only Our Personal Insurance business continues to pperform well,, with g growth in p pre-existing g home and motor business holding up in an increasingly competitive environment. This growth was enhanced by the addition of the personal lines associated with the former Wesfarmers bus
Slide 5: Commercial Insurance
For personal use only Commercial Insurance achieved GWP growth of over 40%, generally by holding its share in a softening market and through the first-time market, first time inclusion of the former Wesfarmers business business. Commercial Insurance’s reported margin for the 2015 year reflected the
Slide 6: New Zealand
For personal use only In New Zealand, our business continues to perform strongly. GWP growth of 23% was primarily driven by the addition of the former Lumley business. The business’ reported margin remained comfortably above 10%, despite incurring a net reserve strengthening of around NZ$150 million
Slide 7: Asia
For personal use only Asia continues to be a key plank in our long term growth strategy, because of the enormous potential we see in i th the region i from f low l insurance i penetration t ti and d rising i i middle iddl class l affluence ffl and d consumption. ti Demonstrating this, our business i
Slide 8: Capital position and dividend
For personal use only Our capital position remains strong. At year end, we were above both our long term benchmark ranges, and would have been within those targeted ranges after allowing for the dividend paid in early October. And turning to our dividend, the lower final dividend was driven entirely
Slide 9: Shared value and community resilience
For personal use only Brian talked about the Purpose that unites all of our people. To bring our Purpose to life, we are pursuing a shared value approach to help create safer, stronger and more confident communities. This sees us extending our role beyond issuing insurance policies and paying claims
Slide 10: Diversity and shared value performance
For personal use only This is how we are performing in a few of the other areas that also fall within shared value. I would like to particularly comment on the subject of diversity. This year, women filled 31.5% of our senior management roles across the Group, and 33.3% in our businesses in Australi
Slide 11: Strategic priorities and digital transformation
For personal use only As Brian mentioned, our Purpose, our Vision and our Spirit shape our strategy. Within this this, each year we set ourselves a number of strategic priorities, priorities which build on those of the previous years. In particular, this year I want to highlight the steps we are tak
Slide 12: Innovative products from IAG Labs
For personal use only Bringing customer needs and data insights together is already delivering results in innovative products andd diff differentt approaches, h which hi h are b being i ttaken k tto market k tb by IAG LLabs. b In July we began trials of InsureLite, a solution for families suffering
Slide 13: Outlook and FY2016 guidance
For personal use only Finally, I’d like to address our outlook. Based on our first quarter trading results, we today reiterate our guidance for the 2016 financial year, with GWP growth expected to be relatively flat, and an insurance margin in the range of 14 – 16%. Our gguidance reflects the compet
Slide 14: CEO retirement and thanks
For personal use only As Brian has mentioned, I have made the decision to retire from IAG and, accordingly, this is the last time I will address you you, our shareholders shareholders, as your Chief Executive Executive. It’s been an honour to have led our company for the past seven and a half years.
Insurance Australia Group — Shareholder Meeting (October 2015) on 6ix