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BRIEF-Insurance Australia Group raises reported margin guidance range for FY17
June 28, 2017 / 12:14 AM / 3 months ago

BRIEF-Insurance Australia Group raises reported margin guidance range for FY17

June 28 (Reuters) - Insurance Australia Group Ltd

* IAG has raised its reported margin guidance range for fy17 from 10.5-12.5% to 13.5-15.5%

* Completed a preliminary review of prior period reserve releases for financial year ended 30 June 2017​

* Preliminary review indicates an outcome equivalent to at least 5% of net earned premium​

* “Other underlying assumptions behind IAG’s FY17 reported margin guidance are unchanged”

* It remains IAG’s long term expectation that reserve releases will represent around 1% of nep in any given year Source text for Eikon: Further company coverage:

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