2321 GMT - Insurance Australia Group remains Macquarie's pick of local insurers after it cleared more than half of its trade credit risks. IAG's comment that its settlement with Greensill Bank will not have a material impact on its financial position is interpreted by one of the investment bank's analysts as an indication that its net exposure is in the low tens of millions of dollars. The analyst writes in a note that IAG will likely book the cost with net corporate expenses, with no impact on its margin guidance. It is unlikely to affect IAG's final dividend, the note adds. Macquarie keeps an outperform rating and A$9.00 target price on the stock, which is at A$7.66 ahead of the open. (stuart.condie@wsj.com)

(END) Dow Jones Newswires

May 31, 2026 19:21 ET (23:21 GMT)

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