First, it pays more than $80 million dollars in claims each and every day. $80 million. Yes what do they collect each day and how much does the CEO get each day?
2011 was the worst year on record for natural disasters in this country.
Insured losses from catastrophes were around $5 billion.(Taken from IAG web site)
http://www.iag.com.au/news/presentations/20120625_AICC.shtml
In January 2005, IAG raised $550 million of contingent capital
through the issue of Reset Exchangeable Securities
(RES). RES provides the Group access to Tier 1
regulatory capital at any time, should it be required.
They don't have enough to pay out my claim though.
The figures above are interesting
550million contingent capital
Insured losses $5 billion
It appears to leave a $4 billion + deficit
Are they trading insolvent?
Maybe one of there employees could drop me a comment and clarify my uneducated reasoning .
As they wont give me back my goods they took months ago or do I have to subsidize this company.
I will be going to the police tomorrow and place on record property stolen by a company working for IAG (I Am Greedy) saying they were going to fix my damaged goods and return them two weeks later.
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