IAG shares surge

Matthew Haupt

Wilson Asset Management

On Wednesday, Insurance Australia Group Limited (ASX: IAG) surprised the market with an increased profit forecast due to better than expected claims costs. The company said lower than anticipated claims costs predominantly related to compulsory third party (CTP), liability, professional risk and workers compensation. Following the announcement, IAG shares surged more than 6% to $6.97 a share. As previously discussed, we believe insurers are well-positioned to benefit from current market conditions and we expect further earnings upgrades from the sector. Shares in IAG closed up 4.5% for the week. We own IAG as a market-driven investment in WAM Leaders.


Matthew Haupt
Lead Portfolio Manager
Wilson Asset Management

Matthew has more than 15 years’ experience in the investment industry working as both a portfolio manager and analyst. Matthew is the Lead Portfolio Manager responsible for WAM Leaders.

I would like to

Only to be used for sending genuine email enquiries to the Contributor. Livewire Markets Pty Ltd reserves its right to take any legal or other appropriate action in relation to misuse of this service.

Personal Information Collection Statement
Your personal information will be passed to the Contributor and/or its authorised service provider to assist the Contributor to contact you about your investment enquiry. They are required not to use your information for any other purpose. Our privacy policy explains how we store personal information and how you may access, correct or complain about the handling of personal information.