FY30 Ambitions: Growth Targets with Earnings Resilience

IAG has outlined its 'Ambition 2030' targets, aiming for $25bn in GWP and 15%+ ROE. Goldman Sachs maintains a Neutral rating with an A$8.00 price target, noting potential upside from expense discipline but concerns over moderating rate environments.

Key Takeaways

• 1.IAG is targeting Gross Written Premium (GWP) growth to $25bn by FY30, implying a 6% annual growth rate.
• 2.The company maintains high financial performance targets including 15%+ ROE and high-single-digit EPS growth.
• 3.Technology and AI investments are expected to deliver ~$130m in expense savings and ~$350m in claims benefits.

Table of Contents

• RIA Snapshot
• Retail NZ
• Flagged expense savings and investments
• IAG Targets
• Price Target, Risks and Methodology - IAG
• Investment Thesis - IAG
• Disclosure Appendix

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