IAG says insurance margins will be at lower end of guidance for FY1H.
Blames some old claims costs lifting, which has happened before.
Investors backed remuneration report at AGM.
IAG has been surprised again by a jump in costs arising from older insurance claims, and the insurance giant partly blames high inflation for bumping up the price of repairing car damage.
This means underlying margins for the first six months of this financial year were likely to hit the lower end of guidance, Sydney-based IAG said on Wednesday.
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Liam Walsh writes on investigations and companies with The Australian Financial Review. He has won multiple media awards, worked in Japan and is now based in Brisbane. Email Liam at liam.walsh@afr.com.au
