At an investor day in Sydney, IAG unveiled an updated strategy and new long-term financial targets under its Ambition 2030 plan, which aims to expand the group’s customer base to more than 11 million and increase gross written premiums (GWP) to more than A$25 billion.
Having successfully achieved the targets set for 2021, IAG said it is well-positioned to deliver on its 2030 ambitions and four strategic priorities: customer focus; insurance excellence; future fit for operations; and exceptional people.
IAG explained that its strategy will be achieved through leading retail and intermediary brands and distribution channels, deep customer data, modern technology platforms and integrated claims supply chain.
The company also emphasized that it aims to achieve a return on equity of more than 15%, high-single-digit earnings per share (EPS) growth annually and top-quarter shareholder returns.
IAG noted that it will deliver sustainable earnings growth through its capital-lean balance sheet and comprehensive reinsurance program, providing strong downside protection and low volatility in financial results.
Nick Hawkins, managing director and chief executive of IAG, added: “IAG is now a stronger and more resilient business. Over the past five years we have delivered on our targets and laid a solid foundation for our new Ambition 2030 targets.
“Our 2030 ambitions will be enabled by our modern technology platform. We are nearing the final stage of a multi-year platform simplification journey that allows us to quickly adapt to changing consumer preferences in an agent AI world.
“Our leading retail business and disciplined, profitable intermediary business deliver on our purpose through some of the most trusted insurance brands in the world.
“Over the past 12 months, we have strengthened our unique member-based culture through our strategic alliances with RACQ and RAC1. These partnerships build on our shared tradition of customer focus and provide new sources of growth.”
Back in February, IAG reported net profit after tax of A$505 million in the first half of fiscal 2026, down from A$778 million in the same period in 2025.
This result was impacted by a A$174 million one-off RACQI impact due to severe seasonal weather following the acquisition and before the business was integrated into IAG’s comprehensive reinsurance program in January 2026.
