Insurance Australia : Annual Review and Sustainability Report 2022 (3.31 MB)
August 11, 2022 at 11:59 pm EDT
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Annual Review and Sustainability Report 2022
Insurance Australia Group Limited
This release has been authorised by the Board of Insurance Australia Group Limited 12 August 2022
ABN 60 090 739 923
Connecting our people to purpose supports the role we play in creating safer and more resilient communities.
About this report
Our Annual Review and Sustainability Report 2022 contains a summary of IAG's 2022 operating performance, including reports from our Chairman and our Managing Director and CEO. The report also contains information about how we create value for our stakeholders, the material topics we address, and the outcomes we have achieved for our key stakeholders. Unless otherwise indicated, references to FY22 and FY21 in graphs and copy throughout this review refer to IAG's financial years ending 30 June 2022 and 2021 respectively. All figures are in Australian dollars unless otherwise stated.
CONTENTS
Highlights
2
Materiality
16
Remuneration
26
Chairman's review
4
Our material topics
16
Letter from the Chairman of
the People and Remuneration
CEO's review
6
Climate change
18
Committee
26
How IAG creates value
8
Disaster resilience and
Executive remuneration
27
emergency response
20
Customers
10
Board of Directors
28
Affordability and availability
Shareholders
11
Group Leadership Team
30
of insurance
22
People
12
Trust and transparency
24
Annual report suite and key dates
32
Communities
14
Shareholder information
32
Environment
15
KPMG assurance statement
33
Glossary
33
Appendix 1
33
1
Customers Shareholders People
Helping customers manage risk is at the centre of our purpose, to make your world a safer place
We aspire to deliver sustainable dividends, and top quartile total shareholder returns
Our people help bring our purpose to life and deliver our strategy
8.5m
5.7%
77%
Customers insured
Gross Written Premium growth
Employee Engagement,
up 4% from FY21
$8,488m
$347m
44%
Claims paid (up from $8,081m in FY21)
Net Profit After Tax
Women in Senior Management
2022
Highl
+21AU
14.6%
Launched
+21NZ
Strategic net promoter score1
Underlying insurance margin
Executive General Manager and
(AU: +29 in FY21)
Executive Manager leadership
(NZ: +22 in FY21)
programs and IAG Academy
1 Strategic net promoter score assesses the strength of the relationship customers have with IAG's insurance brands in Australia and New Zealand, based on their likelihood to recommend IAG to others. It is measured via monthly online surveys conducted anonymously with a representative sample of insurance buyers. All NPS/broker advocacy score information is reported on a 12-month rolling basis.
2
Annual Review and Sustainability Report 2022
Communities Environment
We help to build safer, more resilient communities
We manage our environmental impact and support our customers and communities to transition to a Net Zero future
$15.2m
13%
Invested in community
Reduction in scope 1 and 2 emissions
initiatives in FY22
2,760
Net Zero
Hours volunteered by our people
Emissions commitment by 2050
ights(50% reduction by 2030)
4th RAP
Launched
Launched and reaffirmed support for the
the NRMA Insurance Carbon
Uluru Statement from the Heart
Offset Program
For detailed information about our FY22 results, visit the Results & Reports area of our website at www.iag.com.auand access financial statements, the investor report and management's results presentation.
Highlights 3
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Disclaimer
IAG - Insurance Australia Group Limited published this content on 11 August 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 12 August 2022 03:58:06 UTC.
Insurance Australia Group Limited is a general insurance company in Australia and New Zealand. The Company is engaged in underwriting of general insurance risks and investment management. Its segments include Direct Insurance Australia, Intermediated Insurance Australia and New Zealand. Direct Insurance Australia provides personal lines, and some commercial lines, general insurance products sold directly to customers primarily under the NRMA Insurance brand, SGIO and SGIC brands, the RACV brand in Victoria (via a distribution relationship and underwriting joint venture with RACV), as well as the CGU Insurance and ROLLiNâ Insurance brands. Intermediated Insurance Australia segment provides commercial lines, and some personal lines, general insurance products sold to customers through intermediaries primarily under the CGU Insurance and WFI brands, as well as the Coles Insurance brand via a distribution agreement with Coles. New Zealand segment includes NZI and Lumley Insurance brands.