How Is IAG Weathering $174m Storm Costs While Growing Underlying Profit?

• Net profit after tax down 35.1% to $505 million, impacted by $174 million RACQI weather costs
• Underlying insurance profit up 7.6% to $804 million with stable 15.1% margin
• Gross written premium increased 6%, including RACQI’s contribution
• Interim dividend maintained at 12.0 cents per share with $200 million on-market buyback announced