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Australian general insurer operating multiple brands including NRMA Insurance, CGU and SGIO for home, motor and business cover.
Australian general insurer operating multiple brands including NRMA Insurance, CGU and SGIO for home, motor and business cover.
Collects premiums on home, motor and business cover and earns an underwriting profit when they exceed claims and costs, plus returns on the investments held against future claims. It buys large reinsurance cover against natural disasters, so a bad storm season is partly absorbed. NRMA Insurance and CGU are the main brands.
In one line: Australia's Allstate.
Moat: narrow (brand, scale, distribution). Multiple strong regional/heritage brands (NRMA, CGU, SGIO) covering different customer segments at scale.
Headquarters: Sydney, Australia · Founded: 2000
Size Insurance Australia (IAG.AX) is an Australia Financials company (Property/Casualty Insurance) with a market value of $14.4B, the 27th largest of 316 Australia companies the cockpit tracks. Shares closed at A$8.91 on 6 Nov 2026.
Performance Over six months the shares gained 17.2%, against +17.5% for the median peer and +4.1% for the Australia market (cap-weighted) — 10th lowest of 21 in its peer set.
Growth Revenue grew 9.4% over the last twelve months (peer median +2.3%); the operating margin is 10.0% (peer median 14.7%).
Valuation It trades at 2.87× book value against a peer median of 1.88× (5th most expensive of 21).
Price implies The share price implies a return on equity of about 13.1%; Insurance Australia delivers 14.0%, so the price asks less than the business earns today.
Credit Insurance Australia has 1 bond outstanding ($309M), rated BBB+ by the agencies.
Next results Next results expected around 12 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2026 | FY2025 | FY2024 | FY2023 | |
|---|---|---|---|---|---|
| Revenue | A$19.4B | A$19.4B | A$17.7B | A$16.3B | A$14.5B |
| Revenue growth | — | +9% | +8% | +13% | — |
| Net income | A$1.02B | A$1.02B | A$1.36B | A$898M | A$825M |
| Free cash flow | n/a | n/a | n/a | A$1.16B | n/a |
| Capital expenditure | A$0 | A$0 | A$0 | A$637M | A$0 |
| Total debt | n/a | A$3.24B | A$2.96B | A$2.94B | A$2.64B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE |
|---|---|---|---|---|---|---|
| Insurance Australia IAG.AX | $14.4B | +17% | +9% | 14% | 2.87× | 13.1% |
| Suncorp SUN.AX | $14.9B | +21% | -3% | 10% | 2.08× | 11.7% |
| QBE Insurance QBE.AX | $27.7B | +19% | +3% | 19% | 2.37× | 11.3% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | IAG.AX | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +10.8% | +9.6% | 8th highest of 21 |
| 6-month return | +17.2% | +17.5% | 10th lowest of 21 |
| Return on equity | 14.0% | 16.1% | 9th lowest of 21 |
| Price / book | 2.87× | 1.88× | 5th most expensive of 21 |
| Trailing P/E | 20.8× | 12.6× | 4th most expensive of 20 |
| ROE the price implies | 13.1% | 10.5% | 7th most demanding of 21 |
| ROE delivered | 14.0% | 15.8% | 9th lowest of 20 |
| Company | Market | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE | Delivered ROE |
|---|---|---|---|---|---|---|---|---|
| Insurance Australia IAG.AX | Australia | $14.4B | +17% | +9% | 14% | 2.87× | 13.1% | 14.0% |
| RenaissanceRe RNR | United States | $14.0B | +16% | -21% | 13% | 1.34× | 7.5% | 13.4% |
| Assurant AIZ | United States | $15.1B | +29% | +9% | 44% | 2.60× | 14.6% | 44.2% |
| Everest EG | United States | $15.2B | +18% | -9% | 13% | 1.08× | 6.6% | 12.8% |
| Admiral ADM.L | United Kingdom | $16.1B | +23% | 0% | 46% | 8.04× | 33.5% | 45.6% |
| American Financial AFG | United States | $12.8B | +18% | +3% | 18% | 2.67× | 15.1% | n/a |
| Erie Indemnity ERIE | United States | $12.7B | +26% | +2% | 24% | 4.98× | 19.7% | 23.7% |
| SamsungF&MIns 000810.KS | South Korea | $17.2B | +31% | +5% | 8% | 0.71× | 4.8% | 8.1% |
| Loews L | United States | $22.2B | +5% | +3% | 8% | 1.22× | 8.3% | 8.1% |
| Markel MKL | United States | $23.7B | +7% | -1% | 10% | 1.28× | 9.2% | 9.6% |
| Hanover Insurance THG | United States | $8.35B | +28% | +5% | 22% | 2.43× | 11.2% | 21.8% |
| QBE Insurance QBE.AX | Australia | $27.7B | +19% | +3% | 19% | 2.37× | 11.3% | 19.1% |
| Sampo SAMPO.HE | Finland | $29.1B | +10% | +2% | 16% | 3.60× | 11.3% | 16.5% |
| Scor SCR.PA | France | $6.96B | +10% | -4% | 19% | 1.44× | 9.8% | 18.8% |
| Definity Financial DFY.TO | Canada | $6.47B | +14% | +35% | 12% | 2.13× | 7.6% | 11.7% |
| Hagerty HGTY | United States | $6.18B | +79% | +1% | 5% | 8.42× | 53.7% | 4.6% |
| Selective Insurance SIGI | United States | $5.87B | +17% | +4% | 15% | 1.81× | 9.1% | 14.7% |
| MGIC Investment MTG | United States | $5.87B | +7% | -2% | 14% | 1.18× | 8.9% | 13.9% |
| Hartford (The) HIG | United States | $35.8B | +1% | +4% | 23% | 1.94× | 11.3% | 22.7% |
| Fairfax Financial FFH.TO | Canada | $42.7B | +21% | -1% | 16% | 1.40× | 7.0% | 15.8% |
| Mercury General MCY | United States | $4.58B | -17% | +5% | 26% | 1.63× | 13.7% | 25.5% |
Insurance Australia has 1 bond outstanding with $309M face value. The agencies rate it BBB+.