(Reuters) - Insurance Australia Group beat profit and dividend estimates on Friday for the first half, even as higher claims tied to natural disasters, including severe storms and hail last October, led to a 62% drop in cash earnings.
The news sent the company's shares up 4% to A$4.74, their highest in more than two months.
Adverse weather conditions in Australia have triggered a wave of claims, prompting many insurers to bump up their cost forecasts to cover natural perils claims for the full...
>>> Read more: Australia's IAG cash earnings slump 62% as natural hazard claims surge
The news sent the company's shares up 4% to A$4.74, their highest in more than two months.
Adverse weather conditions in Australia have triggered a wave of claims, prompting many insurers to bump up their cost forecasts to cover natural perils claims for the full...
>>> Read more: Australia's IAG cash earnings slump 62% as natural hazard claims surge
