IAG is warning insurance margins have been smashed harder than it anticipated for the past year, partly due to old claims relating to a lung disease causing a spike in costs.
But the Sydney-based insurer, whose brands include NRMA and CGU, also on Friday argued that margins would bounce back this year.
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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
