Five year performance summary
| Performance1 | FY24 | FY23 |
FY22 |
FY21 |
FY20 |
|
|---|---|---|---|---|---|---|
| Cash return on average shareholders’ equity | (%) | 10.1 | 9.6 |
5.2 | 8.1 | 5.9 |
| Return on average shareholders’ equity | (%) | 8.8 | 8.8 |
5.3 | 7.9 | 7.2 |
| Basic cash earnings per share | (cents) | 108.19 | 93.22 | 53.17 | 83.29 | 59.01 |
| Basic earnings per share |
(cents) |
94.39 | 84.82 |
53.80 | 80.86 | 71.93 |
| Net profit after tax attributable to shareholders1 |
($m) |
1,197 | 1,071 |
681 | 1,033 | 913 |
| General insurance gross written premium |
($m) | 14,121 | 12,395 | 11,382 | 10,531 | 9,952 |
| Underlying insurance trading ratio | (%) | 11.1 | 10.6 | 9.9 | 7.9 | 11.1 |
| Effective income tax rate | (%) | 30.5 | 29.8 | 16.5 | 30.6 | 32.1 |
| Financial Strength | FY24 | FY23 | FY22 |
FY21 |
FY20 |
|
|---|---|---|---|---|---|---|
| Total assets | ($m) | 111,710 | 108,037 | 106,378 |
96,857 |
95,747 |
| Net assets | ($m) | 13,884 | 13,334 |
12,783 |
13,448 |
12,784 |
| Net tangible assets backing per share | ($) | 6.79 | 6.36 |
5.95 |
6.40 |
5.89 |
| General insurance group total capital ratio (ex dividend) | (times PCA) | 1.58 | 1.69 | 1.74 | 1.66 | 1.67 |
| Shareholder Summary | FY24 | FY23 |
FY22 |
FY21 |
FY20 |
|
|---|---|---|---|---|---|---|
| Ordinary share price at end of year | ($) | 17.41 | 13.49 | 10.98 |
11.11 |
9.23 |
| Number of ordinary shares at end of period2 | (million) | 1,272 | 1,265 |
1,261 |
1.280 | 1,276 |
| Ordinary dividend per ordinary share, fully franked | (cents) | 78 | 60 |
40 |
66 |
36 |
| Special dividend per ordinary share, fully franked | (cents) | - | - |
- |
8 | - |
| Dividend payout ratio (excluding special dividend) | (%) | 72.1 | 60.4 |
74.9 |
79.3 | 60.7 |
| Dividend payout ratio (including special dividend) | (%) | 72.1 | 60.4 |
74.9 |
88.9 | 60.7 |
| Market capitalisation3 | ($m) | 22,151 | 17,086 | 13,863 |
14.254 |
11,811 |
1. From 1 July 2023, the Group has adopted AASB 17, the new accounting standard for insurance contracts. FY24 and FY23 reflect this application. All other prior periods have not been restated.
2. Excluding Treasury shares
3. Market capitalisation calculated using total shares which includes Treasury shares. This also reflects capital management initiatives completed during the performance period.