FIVE YEAR FINANCIAL
SUMMARY
2015
2014
2013
2012
(a)
2011
(a)
$m
$m
$m
$m
$m
Gross written premium
11,440
9,779
9,498
8,495
8,050
Premium revenue
11,525
9,721
9,135
8,046
7,858
Outwards reinsurance premium expense
(1,196)
(1,077)
(817)
(700)
(620)
Net premium revenue
10,329
8,644
8,318
7,346
7,238
Net claims expense
(6,941)
(5,201)
(4,982)
(5,421)
(5,089)
Underwriting expenses
(2,847)
(2,303)
(2,178)
(1,994)
(1,978)
Underwriting profit/(loss)
541
1,140
1,158
(69)
171
Net investment income on assets backing insurance liabilities
562
439
270
914
489
Insurance profit/(loss)
1,103
1,579
1,428
845
660
Net investment income from shareholders' funds
223
396
347
89
213
Other income
187
199
175
164
264
Share of net profit/(loss) of associates
(b)
6
(8)
(29)
(13)
(8)
Finance costs
(107)
(98)
(95)
(97)
(86)
Corporate and administration expenses
(c)
(383)
(255)
(208)
(205)
(259)
Amortisation expense and impairment charges of acquired
intangible assets and goodwill
(d)
(80)
(11)
(25)
(20)
(170)
Profit/(loss) before income tax
949
1,802
1,593
763
614
Income tax expense
(119)
(472)
(424)
(177)
(276)
Profit/(loss) after tax from continuing operations
830
1,330
1,169
586
338
Profit/(loss) after tax from discontinued operation
-
-
(287)
(321)
-
Net profit attributable to non-controlling interests
(102)
(97)
(106)
(58)
(88)
Net profit/(loss) attributable to shareholders of Insurance
Australia Group Limited
728
1,233
776
207
250
Ordinary shareholders' equity ($ million)
6,817
6,568
4,786
4,343
4,417
Total assets ($ million)
(e)
31,402
29,748 24,859 25,132 23,029
KEY RATIOS
Gross written premium growth
% 17.0
%3.0
% 11.8
n/a
%3.4
Loss ratio
(f)
% 67.2
% 60.2
% 59.9
% 73.8
% 70.3
Expense ratio
(g)
% 27.6
% 26.7
% 26.2
% 27.1
% 27.3
Combined ratio
(h)
% 94.8
% 86.9
% 86.1
% 100.9
% 97.6
Insurance margin
(i)
% 10.7
% 18.3
% 17.2
% 11.5
%9.1
SHARE INFORMATION
Dividends per ordinary share - fully franked (cents)
29.00
39.00
36.00
17.00
16.00
Basic earnings per ordinary share (cents)
31.22
56.09
37.57
10.01
12.08
Diluted earnings per ordinary share (cents)
30.45
53.62
36.44
9.96
12.01
Ordinary share price at 30 June ($) (ASX: IAG)
5.58
5.84
5.44
3.48
3.40
Convertible preference share price at 30 June ($) (ASX: IAGPC)
101.60
106.44 101.88
98.10
-
Reset exchangeable securities price at 30 June ($) (ASX: IANG)
103.10
107.00 102.80
99.30 103.00
Issued ordinary shares (million)
2,431
2,341
2,079
2,079
2,079
Issued convertible preference shares (million)
4
4
4
4
-
Market capitalisation (ordinary shares) at 30 June ($ million)
13,565
13,671 11,310
7,235
7,069
Net tangible asset backing per ordinary share ($)
(e)
1.34
1.27
1.38
1.20
1.23
(a)
The financial information for 2012 has been re-presented to reflect the treatment of the United Kingdom business as a discontinued operation. Financial information for
2011 is not re-presented.
(b)
Share of net profit/(loss) of associates includes regional support and development costs. Refer to note 26 within the Financial Statements for further details.
(c)
Includes a $60 million impairment of the investment in Bohai Insurance for 2015.
(d)
This included impairment charges for acquired identifiable intangible assets and goodwill of $150 million for 2011.
(e)
The financial information for 2014 has been restated to reflect the fair value adjustments to the net assets acquired in respect of the former Wesfarmers business in
2014.
(f)
The loss ratio refers to the net claims expense as a percentage of net premium revenue.
(g)
The expense ratio refers to underwriting expenses as a percentage of net premium revenue.
(h)
The combined ratio refers to the sum of the loss ratio and expense ratio.
(i)
Insurance margin is a ratio of insurance profit over net premium revenue.
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