Insurance Australia Group posts 54% rise in first-half cash earnings

Reuters
02-13
Insurance Australia Group posts 54% rise in first-half cash earnings

Feb 13 (Reuters) - Insurance Australia Group IAG.AX posted a 54.2% rise in first-half cash earnings on Thursday, benefiting from higher margins and lower natural perils costs.

The general insurer said its cash earnings were A$640 million ($402.43 million) for the six months ended December 31, compared with A$415 million reported last year.

($1 = 1.5903 Australian dollars)

(Reporting by Himanshi Akhand and Sneha Kumar in Bengaluru; Editing by Alan Barona)

((Himanshi.Akhand@thomsonreuters.comSneha.Kumar@thomsonreuters.com))

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