Economic

IAG’s role is to provide the best-quality cover to protect livelihoods, workplaces and homes. Our challenge is to balance affordable insurance today with the real costs of insurance over time. This is fundamental for the long-term sustainability of our business and ongoing protection of our communities.

We must deliver a strong financial performance to ensure that we can continue to pay our customers’ claims, offer insurance that is affordable and accessible, and deliver returns to our shareholders.

IAG is the largest fire and general insurer in New Zealand with a market share of 35%.

We are regularly rated by Standard & Poor’s, the world’s foremost provider of independent credit ratings. We have an AA- stable credit rating, which means we have ‘very strong’ claims-paying ability.

IAG contributes to the economy in many different ways. We employ more than 1,900 staff throughout the country. We’re a major purchaser of goods and services, supporting hundreds of other businesses in New Zealand, including panel beaters, builders and retailers.

We invest in our community by supporting non-profit organisations like the Sustainable Business Network. Since 2005, we have invested $8 million in our communities through community sponsorships, staff volunteering and donations. We also sponsor the Wellington Rugby Sevens. And we help to enhance trade skills through our panel repair and building apprenticeship schemes.

IAG has a dedicated sustainable investment portfolio and adheres to the United Nations Principles for Responsible Investment. We also invest in Generation Investment Management, a sustainable fund dedicated to investing in equities with good social and environmental responsibility as well as good corporate governance.