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The
Next
Steps
The steps we have taken in our three strategic priorities have helped us achieve profitable growth and stronger returns for our shareholders, solutions for our customers and opportunities for our people. With our iconic brands and passionate people, we are ready to take the next steps towards our ambition to be the world’s most respected group of general insurance companies. ... Read moreGroup:prioritiesOrder:1 -
ACCELERATE GROWTH
IN AUSTRALIA
AND NEW ZEALANDThis year, Australia Direct continued to perform strongly, growing revenue by 10.5% as a result of rate increases to recover higher natural peril and reinsurance costs, as well as volume growth, notably in comprehensive motor. ... Read moreCGU achieved strong Gross Written Premium (GWP) growth of 12.0%, primarily through rate increases and recent business acquisitions. A new customer-focused operating model, ‘One CGU’, was launched in March 2012. It will accelerate the performance of the business by increasing efficiency and improving customer service. We acquired the AMI insurance business in New Zealand, enhancing our position as New Zealand’s leading insurer. IAG’s market share for direct home and contents now stands at approximately 55% and for direct motor is approximately 60%.Group:prioritiesOrder:2 -
BOOST OUR ASIAN
FOOTPRINT – 10% OF
GROUP GWP BY 2016We have made good progress towards boosting our Asian footprint, with acquisitive and organic growth, having finalised a 20% strategic investment in Bohai Property Insurance in China and a 30% strategic interest in AAA Assurance in Vietnam. We are also expanding our presence in Malaysia where our joint venture business, AmG, has entered agreements to acquire Kurnia Insurans Berhad (Malaysia); and our joint venture business in India, SBI General, continues to grow rapidly. ... Read moreGroup:prioritiesOrder:6 -
RESTORE PROFITABILITY
IN THE United KingdomThe performance of the UK business continued to improve in financial year 2012, as the extensive programme of remedial actions began to show benefits in all areas. ... Read moreGroup:prioritiesOrder:8
