Updated
‘Caught out?’: IAG misses forecasts again
Liam WalshReporter
Updated
IAG’s oversight of risks has undergone a grilling after the insurance giant cut earnings guidance for the second time in almost seven months.
A $236 million damage bill from Auckland’s “atmospheric river” flooding and a surprise jump in car repair costs has helped cause the pain at the Sydney-based insurer, whose brands include NRMA and CGU.
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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
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