ASX closes higher, IAG and Origin report strong profits — as it happened

ASX closes higher, IAG and Origin report strong profits — as it happened

The S&P/ASX 200 closed higher on Thursday, despite a tumble on Wall Street after hotter-than-expected consumer price data. Half-year results were released for insurance giant IAG and Origin Energy. Look back on the day's events and insights on ABC's business blog.

IAG posts 91% surge in net profit to A$778m in H1’25

Australian insurer IAG has reported a net profit after tax of A$778 million for the first half of the 2025 financial year, a significant 91% increase from A$407 million in the same period last year. IAG noted that this increase was largely driven by a A$140 million post-tax release from the COVID Business Interruption provision, along with higher net earned premiums, and an improvement in the insurance profit. The company posted a pre-tax insura…

IAG posts 91.2% profit jump on COVID-19 support provision

Insurance Australia Group (ASX:IAG) has posted a 91.2% jump in profit during the first half of the 2025 fiscal year, with a major contributor being the $140 million post-tax release of the COVID-19 Business Interruption provision, as well as better net earned premiums and insurance profits. In the half year to December 2024, IAG recorded a net profit after tax (NPAT) of $778 million, up from $407 million in 1H FY24. This included an insurance pr…