Shareholder information
| KEY DATES | |
|---|---|
| 2018 financial year end | 30 June 2018 |
| Full year results and dividend announcement | 15 August 2018 |
| Notice of meeting mailed to shareholders | 10 September 2018 |
| Final dividend for ordinary shares Record date Payment date |
22 August 2018 27 September 2018 |
| Annual general meeting | 26 October 2018 |
| Half year end | 31 December 2018 |
| Half year results and dividend announcement | 6 February 2019* |
| Interim dividend for ordinary shares Record date Payment date |
13 February 2019* 20 March 2019* |
| 2019 financial year end | 30 June 2019 |
| Full year results and dividend announcement | 8 August 2019* |
* Please note: dates are subject to change. Any changes will be published via a notice to the Australian Securities Exchange (ASX).
2018 annual report suite
This annual review contains a summary of the 2018 financial year performance of Insurance Australia Group Limited (IAG). Unless otherwise indicated, references to 2018, 2017 and 2016 in graphs and copy throughout this review refer to IAG’s financial years ended 30 June 2018, 2017 and 2016 respectively. All figures are in Australian dollars unless otherwise stated.
Information about IAG’s 2018 financial performance is available in the Results & Reports area of our website (www.iag.com.au). The website also houses financial updates, investor reports, ASX announcements, key dates and a comprehensive shareholder centre.
Our 2018 annual report contains more detailed financial information, including full statutory accounts, and the Directors’ and remuneration reports for the 2018 financial year. This year’s corporate governance report is available in the About Us area of our website (www.iag.com.au). To have a copy of the annual review or annual report mailed to you, contact IAG’s Share Registry using the contact details on the back cover.
In addition to the non-financial data contained in the review, we publish on our website comprehensive customer, community, workforce and environment data summaries by country. This information is contained in the safer communities area of our website (www.iag.com.au).
Scope and assurance of sustainability reporting
Pages 10-11 and pages 14-19 of this annual review provide an outline of our shared value and safer communities performance during the year ended 30 June 2018.
EY was engaged by IAG to undertake limited assurance over selected disclosures in the safer communities section of IAG’s 2018 annual review and safer communities report, and associated online content. The subject matter for EY’s limited assurance engagement for the year ended 30 June 2018 for Australia, New Zealand and Asia was limited to:
- all customer, community, workforce, and environmental quantitative indicators contained in the safer communities online content (www.iag.com.au/safer-communities/our-performance); and
- the consolidated metrics presented throughout the safer communities section of IAG’s 2018 annual review and safer communities report.
EY’s conclusion statement
Based on the limited assurance procedures conducted, nothing has come to our attention that causes us to believe that, for the year ended 30 June 2018, selected disclosures in IAG’s safer communities section of its 2018 annual review and safer communities report have not been reported and presented fairly, in all material respects, in accordance with IAG’s criteria for reporting.
We draw attention to the sections of IAG’s 2018 annual review titled ‘Our Material Issues’ and ‘Safer Communities’. These sections identify trust as a material issue for IAG’s business and stakeholders. These sections provide IAG’s response to the matter of trust. The complexity and breadth of this matter as well as the subjective assessment individual stakeholders may make in respect of the matter of trust, means IAG’s disclosures may not be sufficient to meet all of the information requirements of IAG’s stakeholders and the users of IAG’s 2018 annual review. Our conclusion is not modified in respect of these matters.
EY’s independent Limited Assurance Statement to the Board and Management of Insurance Australia Group Limited is available in the safer communities area of our website.
Glossary
APRA is the Australian Prudential Regulation Authority.
Credit spread is the difference between the average yield to maturity of the portfolio of non-government securities and the average yield to maturity of the liability profile, valued using Commonwealth Government of Australia yields.
Gross written premium (GWP) is the total amount of insurance premiums that we receive from customers.
Insurance margin represents our insurance profit as a percentage of our net earned premium.
Insurance profit is our underwriting result plus the investment income on assets backing our technical reserves.
Long tail classes of insurance (such as CTP and workers’ compensation) are those with an average period generally greater than 12 months between the time when earned premiums are collected and final settlement of claims occurs.
Net earned premium (NEP) is gross earned premium less reinsurance expense.
Net profit after tax is our net result, after allowing for income taxes and the share of profit owing to non-controlling interests.
Risks in force refers to the subject matter that an insurance policy or contract protects (eg number of vehicles, houses, employees). An insurance policy may cover one risk or many risks, depending on the terms of the policy. Risks in force is a measure of the total number of risks covered by an insurance company at a point in time.
Shareholders’ funds the investment portfolio of assets we hold in excess of the amount backing technical reserves; it represents shareholders’ equity not used in day-to-day operations.
Short tail classes of insurance (such as motor, home and SME commercial) are those with an average period generally less than 12 months between the time when premiums are earned and final settlement of claims occurs.
Technical reserves are the investments we hold to back the outstanding claims liability and unearned premium, net of recoveries and premium debtors.
Underlying margin is defined by IAG as the insurance margin adjusted for net natural peril claim costs less related allowance for the period; reserve releases in excess of 1% of NEP; and credit spread movements.
Share registry
Computershare Investor Services Pty Limited
GPO Box 4709, Melbourne VIC 3001 Australia
Hand deliveries:
Level 4, 60 Carrington Street
Sydney NSW 2000 Australia
Telephone:
(within Australia) 1300 360 688 or
(outside Australia) +61 (0)3 9415 4210
Other:
Email iag@computershare.com.au
Facsimile (general) +61 (0)3 9473 2470
Registered office
Insurance Australia Group Limited
Level 26, 388 George Street
Sydney NSW 2000 Australia
Telephone +61 (0)2 9292 9222
Email investor.relations@iag.com.au
Facsimile +61 (0)2 9292 8072
Website www.iag.com.au
Online information
To view other information about IAG and to manage your shareholding online, visit www.iag.com.au. You can also register to receive email news alerts when IAG makes important announcements.