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AAP

National

Derek Rose

Insurer's disaster claims running well under budget

Nick Hawkins IAG Insurance

AIG says there's been fewer natural disasters, like the Queensland floods in January, so far. (Darren England/AAP PHOTOS)

Australia's largest insurance company is on track to meet its financial targets, aided by fewer natural peril claims this financial year so far.

Insurance Australia Group CEO Nick Hawkins told the company's annual general meeting in Sydney on Thursday the company had budgeted for 18 per cent more natural perils claims than the $1.01 billion it put aside in 2023/24.

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