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IAG posts profit surge
Insurance News: 26 Feb 2010

Australia's top home and car insurer, Insurance Australia Group, has enjoyed a massive surge in its first-half profit to $329 million...

.

That profit, for the six months to the end of December, is up from a profit of $4 million during the same period in 2008.

IAG says the result was driven by a reduction in the cost of claims linked to major storms and fires, as well as increasing stabilisation in financial markets.

The company will pay an interim dividend of 8.5 cents, which is up from 4 cents a year earlier.

SOURCE: ABC News

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