Insurance Australia Group (IAG) has announced a refreshed strategy and long-term financial targets as part of its Ambition 2030.
Launched on 12 May 2026 as a part of its Investor Day celebration in Sydney, Ambition 2030 expects to serve more than 11m customers, with over A$25bn ($18bn) gross written premium by 2030.
The group will also strengthen its position as one of Australia and New Zealand's leading insurance companies, with a goal of delivering 15%+ return on equity, high single-digit earnings per share (EPS) growth per annum, and top quartile shareholder returns.
Having successfully delivered on targets set in FY21, IAG is well positioned to deliver Ambition 2030 and four strategic priorities: Customer Obsession; Insurance Excellence; Future Fit Operations; and Exceptional People.
IAG's strategy will be achieved through leading retail and intermediated brands and distribution channels, deep customer data, modern technology platforms and an integrated claims supply chain. The group expects to deliver sustainable earnings growth with its capital-lite balance sheet and comprehensive reinsurance program providing strong downside protection and lower volatility financial outcomes.
IAG Managing Director and CEO Nick Hawkins said, "Our Ambition 2030 will be enabled by our modern technology platform. We are nearing the final stages of our multi-year platform simplification journey, which provides us with the ability to rapidly adapt to changing consumer preferences in a world of agentic AI.
"Our leading retail business and disciplined, profitable intermediated business deliver our purpose through some of the most trusted insurance brands in the world.”
He said, "In the last 12 months, we have strengthened our unique member-based culture through strategic alliances with RACQ and RAC1. These partnerships build on our customer focused, mutual heritage, and provide new sources of growth."