IAG outlines 2030 ambitions at Investor Day

The news: Insurance Australia Group (IAG) expects to serve more than 11 million customers and achieve over $25 billion gross written premiums by 2030, following the refreshed strategy unveiled today at its Sydney Investor Day.

The context: As part of its 2030 ambitions, IAG outlined four strategic priorities; customer obsession, insurance excellence, future fit operations and exceptional people.

The company said the strategy will be executed through its retail and and distribution channels, modern technology platforms and integrated supply chains. It added the approach is expected to support sustainable growth, underpinned by a capital-lite balance sheet and comprehensive reinsurance program designed to provide downside protection and reduce earnings volatility.

What they said: “Our Ambition 2030 will be enabled by our modern technology platform. We are nearing our final stages of our multi-year platform simplification journey, which provides us with the ability to rapidly adapt to changing consumer preferences in a world of agentic AI,” IAG CEO Nick Hawkins said.