CANBERA (dpa-AFX) - Insurance Australia Group Ltd (IAUGY.PK, IAUGF.PK) reported that its profit attributable to shareholders for fiscal year 2023 climbed to A$832 million from last year's A$347 million, benefiting from a post-tax business interruption provision release of A$392 million.
The company said it paid around A$10.2 billion in claims to support its customers, up about 20% on fiscal year 2022.
Gross written premium for the year rose to A$14.73 billion from A$13.32 billion in the prior year.
Annual net earned premium was A$8.33 billion up from A$7.91 billion in the previous year.
The company has declared a final dividend of 9 cents per share compared to 5 cents per share paid last year. This brings the full year dividend to 15 cents per share compared to 11 cents per share paid in the prior year.
The company noted that it entered fiscal year 2024 with positive momentum across the company and confidence that the strategy it has in place will deliver long term benefits for its shareholders and the 8.7 million customers it serves.
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