IAG expects mid-to-high single digit growth in premiums

Insurance Australia Group Ltd. expects mid-to-high single digit growth in gross written premium in fiscal year 2023, Nasdaq reported citing RTT News. IAG’s chief executive, Nick Hawkins, said that the company’s fiscal 2023 results would benefit from a pre-tax $360 million Australian ($223 million) reduction in COVID-19 business interruption provisions after Australia’s top court largely sided with insurers in a few test cases.