Australian Investment Blog

ASX:IAG 19/06/2018

IAG sells out of Asia, reaches all-time highs!

Stock

Insurance Australia (IAG) $8.42 as at 19/06/2018

Event

IAG has sold out of its businesses in Vietnam, Thailand and Indonesia in two separate transactions following a strategic review into its Asian operations. The sales will add $200 mil to next year’s NPAT, coming 6 months after the review was announced. IAG still hold minority stakes in businesses in Malaysia and India, however today’s announcement sees the end of IAG controlling assets in the region. Insurance Australia (IAG) Chart IAG Chart

Market Matters Take/Outlook

Overall, the review found the businesses weren’t contributing to the company’s growth in a meaningful way, and the fund’s generated will find their way into shareholder’s pockets one way or another. It’s a positive for the company, however we are reluctant to chase the share price at current levels, preferring Suncorp and QBE for insurance exposure. View our technical take by accessing our chart pack today! Click here

Subscribe to Market Matters Blog

Latest Reports

Afternoon report 17/04/2025

The Match Out: ASX strong as energy bounces back, commodity stocks impress on quarterlies

A bullish session after a decent hit to U.S markets overnight, particularly the tech sector which was -3.9% weaker amid further U.S tariff and policy intervention. It was a slow and steady move up over the day, opening flat but climbing ~5-10 points hour after hour.

Morning report 17/04/2025

What Matters Today: Did MM turn neutral towards Gold too early?

The ASX 200 performed well on Wednesday, considering US NASDAQ Futures were down over 2% by 4pm AEST, courtesy of poor news from both sides of the Atlantic before the respective bourses even opened. Global Tech stocks sank on a one-two of bad news for tech goliaths Nvidia and ASML, the last thing the embattled semiconductor sector needed.