Investor Presentaiton
GWP growth and
reported margin
guidance
demonstrate
strong business
momentum
Features of FY23 guidance
GWP
'Mid-to-high single digit growth'¹ for the full year
Reported margin
FY22 underlying margin
Discount rate timing impact
(Negative impact in FY22)
COVID-19 impact
(~$55-65m benefit in FY22)
FY22 adjusted underlying margin
Net FY23 improvement
o Higher investment yields
Margin impact
14.6%
~50bps
(~70bps)
14.4%
~140bps - 340bps
o
Earn through of rate increases, notably in IIA
o Higher claims inflation and reinsurance costs
Increased natural perils allowance
($144m increase in net allowance to $909m)
FY23 reported margin guidance
(1) Refer to Appendix 1: FY23 Guidance and Outlook for more detail
19
FY22 Results 12 August 2022
(~180bps)
14.0-16.0%¹
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