Insurance Australia Posts Surge In H1 Profit
Insurance Australia Group (OTC: IAUGY) reported a strong rise in its first-half profit.
Insurance Australia's net profit in the six months surged to 461 million Australian dollars (US$473 million), from A$144 million, in the year-ago period. However, analysts were expecting a profit of A$337 million.
Insurance profit surged to A$815 million, from A$276 million. IAG announced its plans to pay an interim dividend of 11 cents per share, up from 5 cents in the year-ago period.
Insurance Australia shares closed at $27.79 yesterday.
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