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Insurance Australia Group (ASX:IAG), the largest personal lines insurer in Australia and New Zealand, remains favoured by several fund managers. In September 2026, Airlie Funds Management rated IAG a buy, citing its leading market share and disciplined market, expecting solid returns even with some share erosion, with the stock on around 17 times earnings and a 4.5% yield. Pendal reported a second-half insurance profit 6% below consensus as cyclical pressure built, after an upbeat investor day with five-year targets. Blackwattle and Alphinity both hold overweight positions. IAG operates in the Financials sector within the Insurance industry, and Thesis Tracker has captured 31 comments from 15 fund managers, including Airlie, Pendal Group, Blackwattle and Alphinity. Founded in 1925 and headquartered in Sydney, IAG underwrites home, motor and commercial insurance through brands including NRMA Insurance, CGU, SGIO, SGIC and RACV, and AMI and State in New Zealand.
Company figures as of 15 Oct 2026. For information only.
Fund managers including Pendal Group, Equity Trustees Asset Management, Yarra Capital Management, Pengana Capital Group, Milford Asset Management, Wilson Asset Management, Perpetual Asset Management, Firetrail Investments, Maple-Brown Abbott, Paradice Investment Management, Alphinity Investment Management, Sage Capital, Airlie Funds Management, Perennial Partners, Blackwattle Investment Partners and Datt Capital have invested in Insurance Australia Group Ltd (ASX:IAG).
Airlie highlights IAG's market leadership, disciplined industry structure, reasonable valuation and dividend yield, while Pendal notes upbeat five-year targets from its investor day and Alphinity values insurers' large investment portfolios.
Pendal notes a second-half profit miss with weaker revenue and margins as cyclical pricing pressure builds, and Airlie acknowledges some market share erosion.
Insurance Australia Group Ltd. (IAG), founded in 1925 and headquartered in Sydney, Australia, provides general insurance and corporate services. The company operates through four divisions: Retail Insurance Australia, Intermediated Insurance Australia, New Zealand, and Corporate and Other. Retail Insurance offers personal and commercial products via brands like NRMA, SGIO, and CGU. Intermediated Insurance distributes coverage through brokers and partners under the CGU and WFI brands. The New Zealand division manages local underwriting, while the Corporate and Other segment handles capital management, investments, and related corporate services.
General information only. Thesis Tracker reports what named fund managers have published about ASX companies. It does not take into account your objectives, financial situation or needs, and is not financial product advice or a recommendation to buy, sell or hold any security.
11,356 comments from 164 managers on 761 companies, snapshot 15 Oct 2026.