Investor Presentaiton
Divisional highlights
•
.
Direct Insurance
Australia (DIA)
~132k growth in customer numbers
Accelerating GWP growth (Motor &
Home 12% in 2H23)
Underlying margin rebound in 2H23, with
claims inflation moderating
Intermediated Insurance
Australia (IIA)
~13% average rate increases
2H23 GWP growth of 16.2% assisted by
multi-year policies
Strong improvement in underlying
margin to 9.8% in 2H23
GWP growth/ underlying margin
GWP growth / underlying margin
New Zealand
•
Strong NZ$ GWP growth of ~12%
Reported margin of 2.4% due to NZ's 2nd
and 3rd largest peril events in history
Underlying margin impacted by inflationary
pressures and higher reinsurance costs
GWP growth / underlying margin
21.8%
19.2%
16.2%
16.8%
16.8%
15.6%15.3%
18.2%
13.2%
9.8%
10.9%
8.9%
13.2%
9.1%
13.8%
7.8%
8.3%
8.1%
9.0%
7.1%
5.9%
5.8%
5.0%
5.1%
3.9%
5.7%
3.3%
3.2%
1H22
2H22
GWP Growth
1H23
-Underlying margin
2H23
1H22
2H22
1H23
2H23
1H22
2H22
1H23
2H23
IGWP Growth
-Underlying margin
A$ GWP growth
-
NZ$ GWP growth Underlying margin
7 Results Presentation | 21 August 2023
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