Key highlights

  • IAG (ASX:IAG) reported FY26 NPAT of $1,022 million and paid $12.4 billion in claims.
  • Medibank (ASX:MPL) reported underlying NPAT of $636.8 million, up 2.9%, and an ordinary Dividend of 19.2 cents.
  • Suncorp (ASX:SUN) reported NPAT of $1,027 million and announced a 10 cent Special Dividend and a buy-back of up to $250 million.

General and health insurers report results shaped by claims experience, premium growth and Investment income. For the year ended 30 June 2026, insurers described a period of elevated weather events, ongoing cost-of-living pressure and strategic investment. This article summarises the FY26 results of Insurance Australia Group (ASX:IAG), Medibank Private (ASX:MPL) and Suncorp Group (ASX:SUN).

Sector context

Insurers in Australia and New Zealand are influenced by natural hazard costs, Reinsurance arrangements, premium pricing, investment returns and, for health insurers, household budgets and policyholder trends. The releases refer to elevated natural perils and household cost pressures.

Insurance Australia Group (ASX:IAG)

IAG reported FY26 results on 13 August 2026. Net profit after tax was $1,022 million, compared with $1,359 million, which benefited from a $330 million pre-tax Business interruption provision release and $195 million of favourable peril experience. Underlying insurance profit was $1,578 million, gross Written Premium was $18,412 million, and claims paid were $12.4 billion, up from $10.2 billion. The company completed its RACQ Insurance Acquisition and launched its Ambition 2030 strategy.

The final dividend was 20.0 cents per share and the full-year dividend 32.0 cents, with franking raised to 80%. Reported insurance Margin guidance for FY27 is 14.5–16.5%, with gross written premium growth of 5–8%.

Medibank Private (ASX:MPL)

Medibank reported full-year results on 20 August 2026. Underlying net profit after tax was $636.8 million, up 2.9%, underlying EPS was 23.1 cents, and the ordinary dividend was 19.2 cents per share, fully franked, up 6.7%. The company said it paid $6.9 billion in claims to about 6 million customers, with net resident policyholder growth of 22,100 (1.1%) and a 2.3% decline in non-resident policy units.

It reported savings of about $299 million for customers through Members Choice and no-gap networks and Live Better rewards, and said Medibank Health, including Amplar Health, delivered a record result with 5.3 million patient interactions.

Suncorp Group (ASX:SUN)

Suncorp reported NPAT of $1,027 million, compared with $1,823 million in the prior period, which included gains on the sale of Suncorp Bank and New Zealand Life, and cash Earnings of $1,042 million. Underlying earnings rose 4.5%, the underlying insurance trading result was $1,636 million and the underlying insurance trading ratio was 11.8%, within a 10–12% target range. Natural hazard costs exceeded the allowance by $254 million, with 32 weather events and more than $10 billion of claims paid.

The final ordinary dividend was 52 cents per share, fully franked, alongside a 10 cent fully franked special dividend and a buy-back of up to $250 million. A multi-year aggregate reinsurance cover began on 30 June.

Reading the three results together

The three releases show insurers managing elevated claims and weather events while returning capital: IAG with a higher dividend and higher franking, Medibank with a higher dividend and claims paid, and Suncorp with a special dividend and buy-back.