IAG New Zealand has announced an insurance profit of AU$606m (FY24: AU$457m) for the financial year ended 30 June 2025, delivering a reported insurance margin of 27.4% (FY24: 22.5%).
This result reflects the lower cost of natural disasters (AU$156m below allowance) and achieving a stronger underlying margin of 20.1% (FY24: 16.9%) due to lower claims costs.
Gross Written Premium (GWP) increased by 0.3% to AU$3,807m (FY24: AU$3,796m), with growth of 1.7% in local currency terms.
Amanda Whiting, CEO of IAG New Zealand, says, “Our financial performance in FY25 reflects the investment we have made in our business to deliver on our strategy, meet customers’ needs, and create a stronger, more resilient IAG.
“New Zealand is highly exposed to natural hazards and weather-related disasters and their growing impacts. We must remain financially strong to be able to pay claims and help our customers recover from the next big event, and today’s results help us do this.
“Protecting customers from the risk of wild weather and other disasters is never far from our minds. This year, we have been focused on improving our ability to understand, prepare for, and respond to disasters so that we can be there for our customers when they need us most. We’ve also made great progress in simplifying our claims process, and we’re continuing to invest in streamlining our business to help us bring new, world-class products and services to our customers.
“We are conscious of the financial pressures many New Zealanders are experiencing. Delivering on our strategy and investing for growth, alongside falling inflation, has allowed us to provide lower rate increases for customers over the course of the year, and we expect this to continue in FY26.”
Throughout FY25, IAG New Zealand insured over NZ$1.07t in assets and continued to protect around one in two New Zealand households. More than half a million claims were received in FY25, and NZ$2.17bn was paid out to support customers.
Customer benefits beyond insurance
Amanda Whiting adds, “We're proud to support New Zealanders in more ways than simply insurance.
“In May, we announced that AMI would be providing free Roadside Rescue for all AMI comprehensive car insurance customers, setting a new industry standard, with no limit on callouts, no extra form-filling, and extended to any car the customer may be driving or anyone who may be driving theirs.
“Similarly, one-year free AMI Roadside Rescue is now available for newly licensed drivers heading out on New Zealand roads for the first time, even if they are not insured with AMI. We have also included Roadside Rescue for all NZI light commercial vehicles. By June 2026, over half a million New Zealanders will drive with increased confidence, knowing they’re covered by free Roadside Rescue.
“AMI MotorHub is now in ten locations across the motu, and our teams are successfully innovating their high-quality services beyond repairs. At the Hobsonville flagship centre, customers can now access an 11-point CarCare Check for safety, Warrant of Fitness, EV and standard servicing.
“AMI HomeHub is now fully operational in Auckland, Hamilton, Tauranga, Christchurch and Wellington (with satellite teams reaching Taupō and Rotorua), and in January were amongst the first on the ground in Mangawhai, following an overnight tornado, offering ‘make-safe’ repairs immediately following the storm.”
Sustainability
As the country’s largest general insurer, IAG New Zealand understands the impact of the country’s changing climate and the need to take action to protect communities.
Amanda Whiting says, “IAG is committed to keeping insurance accessible and affordable for New Zealanders, and will continue to advocate for a pragmatic approach to address the growing risk of extreme weather and natural hazards. The path forward is clear: invest in better hazard data, make smarter planning decisions, strengthen infrastructure, and, where necessary, relocate communities out of high-risk areas.
“We are also focused on helping our customers to understand the changing climate, better understand insurance, and how to manage the risks they face, as well as reducing our environmental footprint.
“The progress we’re making in these areas strengthens our ability to operate a resilient, future-focused business that’s here to support New Zealanders whenever they need us, for the long term.”
