Corporate Action: IAG Shareholders Should Vote in Favour of Capital Management Proposal at AGM
We recommend that no-moat Insurance Australia Group shareholders vote in favour of the proposed capital management initiative announced with fiscal 2018 results on Aug. 15, as long as the decision aligns with individual investment goals. The vote will take place at the annual general meeting on Oct. 26. Surplus capital, strong profitability, and a positive business outlook enabled the board to propose the payment of AUD 25 cents per share, or cps. Equity capital is well above internal targets an...Insurance Australia Group is engaged in the underwriting of general insurance and related corporate services and investing activities. Co.'s business divisions are: Consumer, which includes short tail insurance such as motor vehicle and long tail insurance such as compulsory third party, as well as travel insurance, life insurance, income protection and funeral products; Business, which provides business and farm insurance, and workers' compensation services; New Zealand, a general insurance provider in New Zealand; Asia, which provides personal and commercial insurance products through local brands in Asia; and Corporate and other, which includes placement of Co.'s reinsurance program.
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