IAG: Bushfires and COVID-19 pandemic stunt growth – NEWS.com.au

Insurance Australia Group blames natural disasters and the onset of the coronavirus pandemic in the past six months for less-than-expected growth, adding financial hardship is likely to slow down insurance demand. The country’s largest underwriter of general insurance said gross written premiums for the 2020 financial year grew by just 1 per cent as a result of the economic downturn sparked by COVID-19 and the Australian summer’s flurry of damaging bushfires, hail and storms.
IAG chief executiv…

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