The ASX is set for a flat start to trade after a mixed session on Wall Street to end last week, and as a raft of companies unveil their earnings, including JB Hi-Fi, IAG and Carsales. Follow the day's events and insights from our business reporters on the ABC News live markets blog.
Key EventThe company saw a 24.1 per cent rise in its insurance profit, based on a 7.5 per cent increase in gross written premium.
The firm's reported insurance profit margin rose from 7.1 to 8.5 per cent, but it said that its "underlying" insurance margin fell from 15.1 to 10.7 per cent on rising natural perils claims. "Our reported insurance margin of 8.5% reflected growth across the business but was offset by the ongoing impacts of higher inflation on claims costs in home and motor," said IAG chief executive Nick Hawkins.
"A $70m unfavourable net natural perils experience and a $48m prior year reserve strengthening also impacted the margin.""We maintained good cost discipline, our businesses are in good shape, and our focus on growth and profitability delivered the strongest first half Gross Written Premium growth in seven years, up 7.5% .
"GWP growth was driven by rate increases, to offset the high inflation in the supply chain, as well as customer number growth in the home and motor portfolios."
United Kingdom Latest News, United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
JB Hi-Fi hoists dividend but sales are slowingThe RBA’s rate hikes seem to be finally slowing spending on big-ticket items, with The Good Guys outlets posting zero growth in January.
Read more »
Earnings season, jobs data to test ASX’s year-to-date rallyAustralian shares are set for a muted open following modest gains on Wall Street. Beach Energy, Carsales, Endeavour, IAG and JB HiFi report on Monday.
Read more »
ASX LIVE: Australian shares to open flat; Aurizon, JB Hi-Fi, LendLease to report as earnings season acceleratesAustralian stock futures were flat. Oil paces gains in New York on Russian output cut. US CPI, Labor force top data agenda. Follow updates here.
Read more »
ASX LIVE: Australian shares to open flat; Aurizon, JB Hi-Fi, LendLease to report as earnings season acceleratesAurizon has reported EBITDA of $673 million for the half year ended 31 December, down 7 per cent against the prior comparable period. Follow updates here:
Read more »
LIVE: Murphy makes key day three breakthroughTodd Murphy's stellar debut is continuing. 💪 But the Indians march towards a monster first innings lead continues. 😬 Follow our LIVE blog ✍️ INDvAUS 9WWOS
Read more »
Live: Australia aims to curb India's run-scoring on day three of the first TestAustralia is facing an uphill task to stay in contention in the first Test against India in Nagpur, desperate to bowl out the hosts quickly before facing a tough batting test on a wearing pitch. Follow live.
Read more »