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Insurance Australia Group net profit up 39%

February 21, 2014 - 6:00am

Insurance Australia Group Ltd. registered a 39% increase in net profit to $642 million Australian ($572 million) for the six months ended Dec. 31, 2013, The Sydney Morning Herald reported.

The insurer reported a 4% increase in revenue to AUD 4.8 billion. The insurer's chief executive, Mike Wilkins, said "our underlying margin has more than doubled since the 2009 financial year."

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