IAG says the pressure on home and car premiums is easing after double-digit price jumps in previous years, as the insurance giant told investors that earnings were likely to come in at the top of forecasts.
Price rises were now in the high single-digit percentage range, said IAG, which is behind brands including NRMA home insurance and Coles car cover. “We are definitely seeing pricing relief for customers going forward,” the company’s chief executive, Nick Hawkins, said.
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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
James Eyers writes on banking, payments and fintech. He is a former legal and investment banking editor at the AFR, has degrees in commerce and law from UNSW, and is co-author of Buy now, pay later: The extraordinary story of Afterpay Connect with James on Twitter. Email James at jeyers@afr.com.au
