Natural Peril Uncertainty Insufficient to Derail IAG’s Positive Outlook. AUD 6.00 FVE Intact
Our positive view on no-moat-rated Insurance Australia Group remains in place following our regular management catch-up. Significant natural peril events including Tropical Cyclone Debbie will detract from fiscal 2017 earnings with our EPS forecast set to decline modestly on fiscal 2016. Despite the expected soft fiscal 2017 result, we are positive long term and forecast strong EPS growth during fiscal 2018-2021. Our fiscal 2017 total dividend forecast is lifted AUD 1 cent to AUD 26 cents per sh...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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