IAG's Profits Surge by 91% as Premiums Continue to Rise

CEO Signals Ongoing Premium Increases Despite Easing Inflation

The information on this website is general in nature and does not take into account your objectives, financial situation, or needs. Consider seeking personal advice from a licensed adviser before acting on any information.

Insurance Australia Group (IAG) has reported a significant 91% increase in net profit for the first half of the fiscal year, reaching $778 million.

This substantial growth is attributed to favourable weather conditions and strategic business operations.

Despite a general easing of inflationary pressures, IAG's CEO, Nick Hawkins, has indicated that insurance premiums are expected to continue rising, albeit at a slower pace.

Hawkins highlighted that while inflation has impacted both insurers and policyholders, the future appears more favourable, with inflationary pressures expected to diminish over the next six to twelve months. However, he noted that premiums would likely increase in line with inflation, reflecting ongoing challenges in the insurance market.

For tradespeople, this trend underscores the importance of regularly reviewing insurance policies to ensure they remain cost-effective and provide adequate coverage. Staying informed about market developments and exploring competitive options can help mitigate the impact of rising premiums on business operations.

Published:Saturday, 4th Oct 2025
Source: Paige Estritori

Please Note: If this information affects you, seek advice from a licensed professional.

Share this news item:

Insurance News

Climate Change Impacting Home Insurance Costs, IAG Reports

05 Nov 2025: Paige Estritori

Insurance Australia Group (IAG), a leading insurer in Australia, has highlighted the significant impact of climate change on the cost of home insurance. The company reports that the increasing frequency and severity of weather events are contributing to rising premiums for homeowners. - read more

Suncorp's Financial Growth and Share Buyback: What It Means for Policyholders

05 Nov 2025: Paige Estritori

Suncorp, a prominent Australian insurer, has reported an 8% increase in full-year cash earnings, reaching A$1.49 billion for the year ending June 30, 2025. This performance surpasses analyst expectations and is attributed to improved insurance margins and favorable natural hazard costs. - read more

IAG's Profit Growth and Its Implications for Australian Tradespeople

05 Nov 2025: Paige Estritori

Insurance Australia Group (IAG) has reported a significant increase in annual cash earnings for the fiscal year ending June 30, 2025, reaching A$1.17 billion. This growth is primarily driven by an 8% rise in net earned premiums to A$9.98 billion and lower-than-expected natural peril costs. - read more

Click for more Insurance News

Trades Insurance Articles

Why Every Tradie Needs Tailored Insurance: Protecting Your Livelihood

In Australia, tradies are the backbone of many local communities, providing essential services in fields such as construction, plumbing, electrical work, and more. These skilled professionals often operate their own businesses or work as contractors, making financial stability paramount. - read more

What Types of Insurance Does Every Australian Tradie Need?

Public liability insurance is a type of cover that protects businesses and their owners from the financial risks of liabilities that may occur due to damage or injury to a third party. For tradies in Australia, this insurance is crucial due to the nature of their work environment. Working on various sites and handling different tasks increases the likelihood of accidents happening, which makes this type of insurance not only relevant but essential. - read more

Tradespeople Insurance Checklist: Are You Fully Covered?

As a tradesperson, having comprehensive insurance coverage is crucial. Whether you are a carpenter, electrician, plumber, or any other trades professional, the nature of your work exposes you to various risks. Insurance not only protects you but also your clients and your business. - read more

Dictionary

Income Insurance

noun

Insures your income in the event of you being unable to work due to sickness or accident.

This website is owned and operated by Clark Family Pty Ltd (ACN 010 281 008) as Trustee for the Clark Family Trust (ABN 35 957 893 714), 43 Larch Street Tallebudgera QLD 4228. Clark Family Pty Ltd is an Authorised Representative (AR 1298860) of Unique Group Broker Services Pty Ltd (AFSL 509434) for financial product referrals and an Authorised Credit Representative (ACR 401491) of Saccasan Pty Ltd (ACL 386297). Check our licensing details on the ASIC registers: Clark Family Pty Ltd ACR, Clark Family Pty Ltd AR, Saccasan Pty Ltd, Unique Group Broker Services.

IMPORTANT: We do not provide financial product advice or credit assistance. We act solely as an introducer and refer enquiries to licensed third-party intermediaries, insurers, and lenders - with whom you can then deal directly. We may receive a fee or commission from these third parties in consideration for the referral. Before any action is taken to obtain a product or service referred to by this website, advice should be obtained (from either the third party to whom we refer you or from another qualified intermediary) as to the appropriateness of obtaining those products having regard to your objectives, financial situation and needs. Whilst we have our own process for validating the legitimacy of our referral partners, you should always verify the credentials of your financial adviser before proceeding with recommendations that they may present. Visit the ASIC website for further information.