May 4, 2020 / 12:58 AM / a month ago

BRIEF-Insurance Australia Says Presently Limited Scope To Pay Final Dividend In Sept

May 4 (Reuters) - Insurance Australia Group Ltd:

* THERE IS PRESENTLY LIMITED SCOPE TO PAY A FINAL DIVIDEND IN SEPTEMBER 2020

* BOARD WILL DETERMINE QUANTUM OF ANY FINAL DIVIDEND IN AUGUST 2020 IN LINE WITH ITS NORMAL TIMETABLE

* FOR NINE MONTHS ENDED 31 MARCH, UNDERLYING BUSINESS PERFORMANCE HAS REMAINED STRONG

* RETAINED EXISTING FY20 GUIDANCE, OF ‘LOW SINGLE DIGIT’ GROSS WRITTEN PREMIUM GROWTH, A REPORTED INSURANCE MARGIN OF 12.5-14.5%

* AT APRIL END, CO’S INVESTMENT INCOME ON SHAREHOLDERS’ FUNDS AMOUNTED TO FY-TO-DATE LOSS OF ABOUT $280 MILLION PRE-TAX

* RETAINS STRONG CAPITAL POSITION WITH CET1 RATIO AT TOP END OF TARGETED RANGE

* PERFORMANCE IN FY20 CONCLUDING MONTHS SUBJECT TO ONGOING UNCERTAINTY FROM COVID-19 CHALLENGES & SURROUNDING ECONOMIC CONDITIONS Source text for Eikon: Further company coverage:

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