IAG lifts margin guidance on reserve releases

Australian insurance company IAG has lifted its full-year profit
margin guidance because of greater-than-expected reserve
releases.
After a review of prior-year reserve releases, the carrier said
reserve releases would amount to at least 5 percent of net earned
premiums in the fiscal year ending 30 June, up from a previous
estimate of at least 2 percent.
As a result it lifted its margin guidance range for the year to
June to 13.5 percent to 15.5 percent, from 10.5 percent to...