At its Investor Day in Sydney, IAG has unveiled a refreshed strategy and new long-term financial targets under its Ambition 2030 plan, which aims to grow the group’s customer base to more than 11 million and lift gross written premium (GWP) above AU$25 billion.
Having successfully delivered on targets set in 2021, IAG said that it is well-positioned to deliver Ambition 2030 and four strategic priorities: Customer Obsession; Insurance Excellence; Future Fit Operations; and Exceptional People.
IAG explained that its strategy will be achieved through leading retail and intermediated brands and distribution channels, deep customer data, modern technology platforms and an integrated claims supply chain.
The firm also underlined its goal of delivering 15%+ return on equity, high single-digit earnings per share (EPS) growth per annum, and top quartile shareholder returns.
IAG noted that it will attain this sustainable earnings growth with its capital-lite balance sheet and comprehensive reinsurance program, providing strong downside protection and lower volatility financial outcomes.
IAG Managing Director and Chief Executive Officer Nick Hawkins added, “IAG is now a stronger, more resilient business. Over the past five years, we have delivered on our targets and laid solid foundations for our new Ambition 2030 goals.
“Our Ambition 2030 will be enabled by our modern technology platform. We are nearing the final stages of our multi-year platform simplification journey, which provides us with the ability to rapidly adapt to changing consumer preferences in a world of agentic AI.
“Our leading retail business and disciplined, profitable intermediated business deliver our purpose through some of the most trusted insurance brands in the world.
“In the last 12 months, we have strengthened our unique member-based culture through strategic alliances with RACQ and RAC1. These partnerships build on our customer-focused, mutual heritage, and provide new sources of growth.”
Back in February, IAG reported net profit after tax for H1 of the 2026 financial year of AU$505 million, down from AU$778 million in the same period of 2025.
The result was impacted by the one-off RACQI impact of AU$174 million from severe seasonal weather immediately following the acquisition, and before the business was integrated into IAG’s comprehensive reinsurance program in January 2026.
