KEY DATES
| 2014 financial year end | 30 June 2014 |
| Full year results and dividend announcement | 19 August 2014 |
| Notice of meeting mailed to shareholders | 8 September 2014 |
| Final dividend for ordinary shares Record date Payment date |
10 September 2014 8 October 2014 |
| Annual general meeting | 30 October 2014 |
| Half year end | 31 December 2014 |
| Half year results and dividend announcement | 20 February 2015* |
| Interim dividend for ordinary shares Record date Payment date |
4 March 2015* 1 April 2015* |
| 2014 financial year end | 30 June 2015 |
| Full year results and dividend announcement | 21 August 2015* |
* Please note: dates are subject to change. Any changes will be published via a notice to the Australian Securities Exchange (ASX).
2014 ANNUAL
GENERAL MEETING
IAG’s 2014 annual general meeting will be held on Thursday, 30 October 2014, at the Wesley Conference Centre, 220 Pitt Street, Sydney NSW 2000, commencing at 10.00am. Details of the meeting, including information about how to vote, will be contained in our notice of meeting, which will be mailed to shareholders, and available online at www.iag.com.au, from Monday, 8 September 2014.
2014 ANNUAL
REPORT SUITE
This annual review contains a summary of the 2014 financial year performance of Insurance Australia Group Limited (IAG, or the Group). Unless otherwise indicated, references to 2014, 2013 and 2012 in graphs and copy throughout this review refer to IAG’s financial years ended 30 June 2014, 2013 and 2012 respectively. All figures are in Australian dollars unless otherwise stated.
lnformation about IAG’s 2014 financial performance is available online in the 2014 reporting centre on our website (www.iag.com.au), along with financial updates, investor reports, ASX announcements, key dates and a comprehensive shareholder centre.
More detailed information is contained in IAG’s 2014 annual report, including full statutory accounts, and the Directors’, remuneration and corporate governance reports for the 2014 financial year. To have a copy of the annual report mailed to you, contact IAG’s Share Registry using the contact details below.
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
+61 (0)3 9415 4210
Other:
Facsimile +61 (0)3 9473 2470
Email iag@computershare.com.au
SCOPE AND ASSURANCE OF SUSTAINABILITY REPORTING
The sustainability pages of this review provide an outline of our approach to, and performance in, developing a sustainable business during the year to 30 June 2014.
These pages contain quantitative and qualitative information for IAG’s controlled operations in Australia, New Zealand and Thailand, and our Singapore office. We developed the sustainability content in line with the Global Reporting Initiative (GRI) 3.1 guidelines, including the financial services sector supplement.
IAG has assessed its sustainability disclosures to a ‘B’ application level. In 2014, we engaged independent assurance providers Net Balance to assure IAG’s sustainability indicators as presented online in our Data Summary. Selected sustainability indicators have also been presented in this annual review. The sustainability indicators were assured to a limited level using the ASAE 3000 Assurance Engagements Other than Audits or Reviews of Historical Financial Information standard.
The sustainability content of this annual review was also reviewed against the GRI’s Reporting Principles for Defining Content. Results of the assurance can be found in the assurance statement provided by Net Balance. A glossary of terms which describes the scope of sustainability data included in our content, complete data summary, GRI content index and assurance statement are all available online.
REGISTERED OFFICE
INSURANCE AUSTRALIA
GROUP LIMITED
Level 26, 388 George Street Sydney NSW 2000 Australia
Telephone +61 (0)2 9292 9222
Facsimile +61 (0)2 9292 8072
Email investor.relations@iag.com.au
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 sold to 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.
LIFE AND GENERAL INSURANCE CAPITAL (LAGIC) is APRA’s revised regulatory capital regime, which comes into effect from 1 January 2013.
LONG TAIL classes of insurance are those such as CTP and workers’ compensation where the average period is 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.
PRESCRIBED CAPITAL AMOUNT (PCA) as defined by APRA under its LAGIC regime.
RISKS IN FORCE refers to the subject matter that an insurance policy or contract protects (for example, number of vehicles, houses, employees). An insurance policy may cover one risk or many risk, depending on the terms of the policy. Risks in force are a mesure of the total number of risks covered by an insurance company at a point in time.
SHORT TAIL classes of insurance (such as motor, home and small-to-medium enterprise 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.
SHAREHOLDERS’ FUNDS is 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.
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 reported insurance margin adjusted for net natural peril claim costs less related allowance; reserve releases in excess of 1% of NEP; and credit spread movements.