The rise of Japan, Harvey Norman, IAG
Fund Manager Chris Pedersen discusses ETFs vs unlisted funds, Japan outperforming China, Harvey Norman and IAG.
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Insurance Australia Group Limited
Insurance Australia Group Limited (IAG) is the largest general insurance company in Australia and New Zealand. The Group’s businesses underwrite almost $12 billion of premium per annum, selling insurance under many leading brands.
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The rise of Japan, Harvey Norman, IAG
Fund Manager Chris Pedersen discusses ETFs vs unlisted funds, Japan outperforming China, Harvey Norman and IAG.
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News
ASIC initiates legal action against IAG and subsidiaries
Australia's corporate regulator, ASIC, has commenced legal proceedings against insurer IAG (ASX:IAG) and its two subsidiaries, accusing them of misleading customers regarding loyalty discounts offered for specific categories of home insurance.
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Market Morsels: IAG, FBU, AZJ
New Zealand's wild weather is playing havoc with companies on both sides of the Tasman, with updates from IAG and Fletcher Building released Monday, as well as one from Aurizon.
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Oz Insurers to Bear Brunt of Auckland Flood Claims
Just when the Australian insurance sector was looking at having escaped any major catastrophe over the holiday break, along comes Friday's flooding event in Auckland.
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Climate Change No Chump Change for Insurers
Insurance giant Swiss Re has acknowledged the key role climate change played in this year’s east coast floods, which ended up being the world’s most costly disaster in the first half of 2022.
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Analyst Views
IAG – UBS rates the stock as Sell
A change in covering analyst has led to a downgrade to Sell from Neutral on Insurance Australia Group from UBS as the company faces a number of challenges. Target falls to $4.20 from $5.35.
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IAG – Macquarie rates the stock as Outperform
The broker acknowledges short-term risk yet believes the stock is cheap. The Outperform rating and $5.40 target are unchanged.
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IAG – Morgans rates the stock as Add
Morgans downgrades its FY22 EPS forecast by -26% and reduces its target price to $5.36 from $5.64. The analyst retains an Add rating.
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IAG – UBS rates the stock as Buy
UBS retains its Buy rating and lowers its target price to $5.65 from $5.80.
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IAG – Morgans rates the stock as Add
Morgans sees value in the group and retains its Add rating while lowering FY21 and FY22 EPS estimates by -8% and -2%. The broker's price target falls to $5.37 from $5.46.
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