IAG recovers on agg policy but falls to Covid-driven half-year loss
Insurance Australia Group (IAG) tapped its calendar-year 2020 aggregate reinsurance coverage for A$90mn ($70mn) of recoveries during the first half of its 2021 financial year, as it fell to a net loss for the period driven by its preannounced A$1.15bn provision for potential Covid-19 losses.
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