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IAG ONLY AUSTRALIAN INSURER TO COMMIT TO UNITED NATIONS PRINCIPLES FOR SUSTAINABLE INSURANCE

NEWS RELEASE 20 June 2012 IAG ONLY AUSTRALIAN INSURER TO COMMIT TO UNITED NATIONS PRINCIPLES FOR SUSTAINABLE INSURANCE Insurance Australia Group Limited (IAG) today announced it was the only Australian insurer to be a signatory to the Principles for Sustainable Insurance following a ceremony in Brazil overnight, as part of the UN Conference on sustainable development (Rio+20). The principles have been developed by the United Nations Environment Programme Finance Initiative (UNEP FI) and are a framework for the insurance industry to respond to increasing environmental, social and governance (ESG) challenges. Around 30 insurers from Australia, Brazil, Canada, France, Greece, Germany, Netherlands, New Zealand, Norway, Japan, South Africa and Spain have signed up, committing to the integration of ESG considerations into all aspects of their operations through the adoption of a set of voluntary and aspirational global principles. IAG also welcomed the Insurance Council of Australia signing on as a supporting institution. IAG Chief Strategy Officer, Ms Leona Murphy, said given IAG's long standing history of working to help build stronger more resilient communities, becoming a signatory was a natural extension of the insurer's ongoing work. “The insurance industry plays an important role in the economy and it is critical that we take account of the changing and complex risks that we and our communities face. Through education, sharing insights, working with government, regulators and through our community partnerships, we will continue to focus on the proactive management of risk to make our communities stronger. “At IAG risk matters; it doesn't just matter to our business, it matters to our economy, to our communities and it matters to our way of life. It is at the heart of why we exist and is core to our purpose. “The world is changing and risk is only increasing. This is all about helping insurers put ESG issues and sustainable outcomes at the heart of everything we do, from management processes, through to supplier relations, through to the products and services we offer and our customer and community interactions. “We look forward to building on the activities that we have already begun to ensure that ESG issues are considered as a normal part of just doing business,” she said. The principles are:  We will embed in our decision making environmental, social and governance issues relevant to our business  We will work together with our clients and business partners to raise awareness of environmental, social and governance issues, manage risk and develop solutions  We will work together with governments, regulators and other key stakeholders to promote widespread action across society on environmental, social and governance issues  We will demonstrate accountability and transparency in regularly disclosing publicly our progress in implementing principles More information at www.unepfi.org/psi PAGE 1 OF 2

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