SYDNEY Feb 22 Insurance Australia Group
, the nation's largest general insurer by market share,
posted a 4.3 percent fall in first-half net profit on Wednesday,
topping market expectations, as strong equity markets increased
investment income and gross written premiums were higher than
IAG, which specialises in motor and property insurance, said
net profit fell to A$446 million ($342 million) in the six
months ended Dec. 31 compared with A$466 million a year ago but
beat the A$419 million estimate of three analysts polled by
Thomson Reuters I/B/E/S.
IAG, which has a strategic partnership with U.S. investor
Warren Buffett's Berkshire Hathaway Inc, reported an
insurance margin of 12.6 percent for the half-year, near the
bottom of its target range of 12.5 to 14.5 percent.
($1 = 1.3024 Australian dollars)
(Reporting by Jamie Freed; Editing by Robin Pomeroy)