BUZZ-Insurance Australia Group jumps amid broader market rally

Reuters

04-10

BUZZ-Insurance Australia Group jumps amid broader market rally

** Shares of Insurance Australia Group IAG.AX rise as much as 7.8% to A$8.04, their biggest intraday gain since late June 2024

** Shares of insurer tracking rally seen in global markets as U.S. President Donald Trump temporarily eases some tariffs MKTS/GLOB

** UBS upgrades stock to 'Buy' from 'Neutral', says IAG is well-placed to achieve cost reductions, while also seeing potential for better insurance trading ratios in the second-half of 2025

** Brokerage lowers Price Target to A$8.30 from A$8.50 to capture a lower market Price-to-earnings ratio

** YTD, shares down 8.7%

(Reporting by Nichiket Sunil in Bengaluru)

((nichiket.sunil@thomsonreuters.com))

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