Insurance Australia Group (ASX:IAG) has announced that it commenced fiscal year 2024 with a positive trajectory.

The company reported an underlying insurance margin of 12.6% for the fiscal year 2023.

Furthermore, Insurance Australia Group (ASX:IAG) reported an insurance margin of 9.6% for the same fiscal year.

The company also estimates that approximately 20% of the premiums collected currently cover reinsurance costs and perils allowance.

Insurance Australia Group (ASX:IAG) is a leading general insurance company, known for providing a range of personal and commercial insurance products to customers in Australia.