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AAP
AAP
Business
Derek Rose

IAG returns to profit despite perils blow

IAG Insurance
Insurance Australia Giant has returned to profitability in 2021/22. (Mick Tsikas/AAP PHOTOS) (AAP)

IAG has returned to profitability after a loss the previous year, but will be returning a smaller dividend to shareholders.

The insurance giant on Friday reported a $347 million net profit after tax (NPAT) in the 12 months to June 30, after a $427 million loss the year before, beating consensus estimates of a $248 million profit.

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