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IAG reports loss of $7m for H1 2012, as CEO hails improvement

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Insurance Australia Group has reported that its UK arm made an underwriting loss of Au$7m for the six months to 31 December 2011.

This marked an upturn from an Au$124m loss in 1H 2011 and Au$68m for the 2H 2011.

Combined operating ration was 102.8%, an improvement from 142.3% in 1H 2011 and 127.7% in 2H 2011.

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