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IAGL 4E and Annual Report (6.44 INSURANCE AUSTRALIA GROUP LIMITED PRELIMINARY FINAL REPORT FOR THE YEAR ENDED 30 JUNE 2021 APPENDIX 4E (ASX Listing rule 4.3A) RESULTS FOR ANNOUNCEMENT TO THE MARKET 2021 2020 UP / DOWN % CHANGE $m $m Revenue from ordinary activities Up 1.7 % 18,895 18,576 Net (loss)/profit after tax from ordinary activities attributable to shareholders of the Parent from continuing operations Down 194.3 % (414) 439 Net loss after tax from ordinary activities attributable to shareholders of the Parent from discontinued operations Down 225.0 % (13) (4) Net (loss)/profit attributable to shareholders of the Parent Down 198.2 % (427) 435 AMOUNT FRANKED AMOUNT DIVIDENDS – ORDINARY SHARES PER SECURITY PER SECURITY Final dividend 13.0 cents - cents Interim dividend 7.0 cents - cents FINAL DIVIDEND DATE Record date 18 August 2021 Payment date 22 September 2021 The Company's Dividend Reinvestment Plan (DRP) will operate likely by acquiring shares on-market with no discount applied. The last date for the receipt of an election notice for participation in the Company's DRP is 19 August 2021. The DRP Issue Price will be based on a volume-weighted average price for a 12-day trading window from 23 August 2021 to 7 September 2021 inclusive. Eligible shareholders may now lodge their DRP elections electronically by logging on to IAG's share registry, Computershare, on their website at www.computershare.com.au. Additional Appendix 4E disclosure requirements can be found in the Annual Report of Insurance Australia Group Limited for the year ended 30 June 2021 (Attachment A). This report is also to be read in conjunction with any public announcements made by Insurance Australia Group Limited during the reporting year in accordance with the continuous disclosure requirements of the Corporations Act 2001 and the ASX Listing Rules. The report is based on the consolidated financial statements which have been audited by KPMG. INSURANCE AUSTRALIA GROUP LIMITED ABN 60 090 739 923 1 ATTACHMENT A INSURANCE AUSTRALIA GROUP LIMITED AND SUBSIDIARIES ANNUAL REPORT 30 JUNE 2021 INSURANCE AUSTRALIA GROUP LIMITED ABN 60 090 739 923 2 Insurance Australia Group Limited Limited Group Australia Insurance Annual Report 2021 Annual Report A more resilient future. Annual Report 2021 Insurance Australia Group Limited ABN 60 090 739 923 Contents 1 Directors’ report 65 Consolidated cash flow statement 35 Remuneration report 66 Notes to the financial statements 59 Lead auditor’s independence declaration 114 Directors’ declaration 60 Consolidated financial statements contents 115 Independent auditor’s report 61 Consolidated statement of comprehensive income 120 Shareholder information 63 Consolidated balance sheet 123 Corporate directory 64 Consolidated statement of changes in equity 124 Five-year financial summary About this report 2021 annual review and The 2021 annual report of Insurance Australia safer communities report This report should be read with Group Limited (IAG, or the Group) includes IAG’s the 2021 annual review and safer full statutory accounts, along with the Directors’ communities report, which provides a summary of IAG’s operating and remuneration reports for the financial performance, including the year ended 30 June 2021. This year’s corporate Creating safer Chairman’s and CEO’s reviews. governance report is available in the About Us more resilient Our annual review and safer communities. Annual Review and communities report is also available area of our website (www.iag.com.au). Safer Communities Report 2021 Insurance Australia Group Limited This release has been authorised by the Board of Insurance Australia Group Limited, 11 August 2021 ABN 60 090 739 923 from the home page of our website at www.iag.com.au. Detailed The financial statements are structured to provide prominence information about our safer communities approach and to the disclosures that are considered most relevant to the user’s non‑financial performance is available in the Safer Communities understanding of the operations, results and financial position of the area of our website. Group. All figures are in Australian dollars unless otherwise stated. If you would like to have a copy of the annual report or annual review and safer communities report mailed to you, contact IAG’s Share Registry using the contact details on page 123. 2021 annual general meeting The 2021 annual general meeting of Insurance Australia Group Limited will commence at 9.30am on Friday, 22 October 2021. DIRECTORS' REPORT The Directors present their report together with the consolidated financial report of Insurance Australia Group Limited and its subsidiaries for the financial year ended 30 June 2021 and the Auditor's Report. The following terminology is used throughout the financial report: Company or Parent – Insurance Australia Group Limited; and IAG or Group – the consolidated entity consists of Insurance Australia Group Limited and its subsidiaries. DIRECTORS OF INSURANCE AUSTRALIA GROUP LIMITED The names and details of the Company's Directors in office at any time during or since the end of the financial year are set out below. Directors were in office for the entire period unless otherwise stated. CHAIRMAN ELIZABETH B BRYAN AM BA (Econ), MA (Econ) – Chairman and Independent Non-Executive Director INSURANCE INDUSTRY EXPERIENCE Elizabeth Bryan was appointed a Director of IAG on 5 December 2014, and became Chairman on 31 March 2016. She is the Chairman of the Nomination Committee, and attends all other Board committee meetings in an ex-officio capacity. Elizabeth is also the Chairman of Insurance Manufacturers of Australia Pty Limited. OTHER BUSINESS AND MARKET EXPERIENCE Elizabeth brings extensive leadership, strategic and financial expertise from a diverse range of industries to her role as Chairman. She has over 30 years of experience in the financial services industry, government policy and administration, and on the boards of companies and statutory organisations. Previous roles include Chairmanship of Caltex Australia Limited and UniSuper Limited. Directorships of other listed companies held in the past three years: Virgin Australia Group (2015-2020); and IAG Finance (New Zealand) Limited (formerly part of the Group) (2016-2019). This company was delisted from the ASX on 17 December 2019. MANAGING DIRECTOR NICHOLAS (NICK) B HAWKINS BCom, FCA – Managing Director and Chief Executive Officer, Executive Director INSURANCE INDUSTRY EXPERIENCE Nick Hawkins was appointed Managing Director and Chief Executive Officer of IAG on 2 November 2020. Nick previously held the role of Deputy CEO, accountable for the management and performance of IAG’s day-to-day operations. He previously spent 12 years as IAG’s Chief Financial Officer, responsible for the financial affairs of the Group. Prior to this, Nick was the Chief Executive Officer of IAG New Zealand and also held a number of roles within finance and asset management since joining the Group in 2001. Nick was appointed as Director of the Insurance Council of Australia (ICA) on 6 May 2021. OTHER BUSINESS AND MARKET EXPERIENCE Before joining IAG, Nick was a partner with the international accounting firm KPMG. Nick is a graduate of the Harvard Advanced Management Program. Directorships of other listed companies held in the past three years: IAG Finance (New Zealand) Limited (formerly part of the Group) (2008-2019). This company was delisted from the ASX on 17 December 2019. 1 OTHER DIRECTORS SIMON C ALLEN BCom, BSc, CFInstD – Independent Non-Executive Director INSURANCE INDUSTRY EXPERIENCE Simon Allen was appointed a Director of IAG on 12 November 2019 and is a member of the People and Remuneration Committee and Risk Committee. Simon has been a Non-Executive Director of IAG’s wholly-owned subsidiary, IAG New Zealand Limited since September 2015 and was appointed its Chairman in November 2019. OTHER BUSINESS AND MARKET EXPERIENCE Simon has over 30 years of commercial experience in the New Zealand and Australian capital markets and was Chief Executive of investment bank BZW/ABN AMRO in New Zealand for 21 years. He is currently Chair of The New Zealand Refining Company Limited and a Trustee of the New Zealand Antarctic Heritage Trust. He was the inaugural Chair of NZX Limited and of the Financial Markets Authority and Crown Fibre Holdings Limited (renamed Crown Infrastructure Partners Limited). Directorships of other listed companies held in the past three years: The New Zealand Refining Company Limited, since 2015. DUNCAN M BOYLE BA (Hons), FCII, FAICD – Independent Non-Executive Director INSURANCE INDUSTRY EXPERIENCE Duncan Boyle was appointed a Director of IAG on 23 December 2016. He is a member of the Audit Committee and Risk Committee. Duncan is Chairman of TAL Dai-ichi Life and a former Non-Executive Director of QBE Insurance Group. Duncan’s executive career included senior roles with a variety of financial and corporate institutions, including Royal and Sun Alliance Insurance. He also held various board roles with the Association of British Insurers, Insurance Council of Australia, Global Aviation Underwriting Managers, AAMI and APIA. OTHER BUSINESS AND MARKET EXPERIENCE Duncan is a former Non-Executive Director of Stockland Group and Clayton Utz. Directorships of other listed companies held in the past three years: None. SHEILA C MCGREGOR BA (Hons), LLB, AICD Diploma – Independent Non-Executive Director INSURANCE INDUSTRY EXPERIENCE Sheila McGregor was appointed a Director of IAG on 13 March 2018. She is a member of the Audit Committee. OTHER BUSINESS AND MARKET EXPERIENCE Sheila is a Partner at Gilbert + Tobin, advising on business-critical technology, data, privacy and digital issues. Sheila is a Non-Executive Director of Crestone Holdings Limited. She is also a Non-Executive Director of St Vincent's Health Australia, the Sydney Writers’ Festival and Board Chair of an independent girls’ school in Sydney. Directorships of other listed companies held in the past three years: None. 2 IAG ANNUAL REPORT 2021 JONATHAN (JON) B NICHOLSON BA – Independent Non-Executive Director INSURANCE INDUSTRY EXPERIENCE Jon Nicholson was appointed a Director of IAG on 1 September 2015.
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