Log in
Forgot password ?
Become a member for free
Sign up
Sign up
Dynamic quotes 

4-Traders Homepage  >  Equities  >  AUSTRALIAN SECURITIES EXCHANGE LIMITED  >  Insurance Australia Group Ltd    IAG   AU000000IAG3

End-of-day quote. End-of-day quote  - 10/26
5.63 AUD   -0.71%
10/21 INSURANCE AUSTR : IAG on track for FY17 guidance
10/09 INSURANCE AUSTR : IAG completes off-market share buy-back
10/07 INSURANCE AUSTR : IAG off-market share buy-back – VWAP Market ..
News SummaryMost relevantAll newsSector news 

Insurance Australia Group Limited : IAG welcomes women back into workforce with double pay

share with twitter share with LinkedIn share with facebook
share via e-mail
04/16/2012 | 01:54am CEST

Insurance Australia Group Limited (IAG) today announced it was introducing the most generous and accessible parental leave programme in the Australian financial services industry, with 20 weeks parental leave at full pay.

In an industry first the programme comprises a 14 week initial payment on the commencement of leave with a "welcome back payment" which doubles employees' pay for six weeks upon their return to work.

IAG's Managing Director and CEO, Mr Mike Wilkins, said the programme was in response to feedback around the stresses of combining paid employment and parenting, and 'welcome back payments' aimed to help alleviate some of the financial pressures women face when considering returning to work.

He said the proposal was driven by IAG's commitment to attract and retain quality staff by creating a more family friendly and diverse workplace.

"IAG is committed to creating a family friendly workplace as companies that embrace diversity and flexibility attract and retain high performing individuals and ultimately perform better. As an organisation we are supporting our people at a time when generally, they most need extra financial support and more flexible work options," Mr Wilkins said.

"The Group also has a goal of having one third of all senior management positions filled by women by 2015 and I think this will help us achieve that, by really ensuring we are an employer of choice for mothers and families."

Its programme places IAG at the fore of Australian financial services, with an industry average of around 13 weeks paid maternity leave.

The insurer said it had also addressed the issue of women returning to work on their pre-leave salaries, having missed out on pay increases enjoyed by their colleagues. Research by the Australia Institute finds primary carers can expect to earn about 4% less per hour on average than they would if they did not have a child.

"IAG has also committed to hold remuneration reviews with mothers who are absent from the workplace to ensure pay remains fair and consistent with their colleagues whilst still being based on merit and achievement," Mr Wilkins said.

"This is an innovative initiative we believe to be rare among Australian employers and together with our generous parental leave payments, I believe the programme will give potential employees more reasons to consider IAG as an employer and current employees incentive to stay with the organisation."

IAG's 20 week parental leave programme is on top of the government's parental leave policy of up to 18 weeks support and also offers secondary carers three weeks paid leave.

This programme becomes effective for any of IAG's Australian based employees taking parental leave from 16 April 2012.

distributed by
share with twitter share with LinkedIn share with facebook
share via e-mail
10/21 INSURANCE AUSTRALIA : IAG on track for FY17 guidance
10/09 INSURANCE AUSTRALIA : IAG completes off-market share buy-back
10/07 INSURANCE AUSTRALIA : IAG off-market share buy-back – VWAP Market Price
10/07 INSURANCE AUSTRALIA : IAG extends CTP quota share agreement
10/06DJInsurance Australia Extends Quota Share Deal with Munich Re
09/19 INSURANCE AUSTRALIA : Are you ready? How to prepare for a disaster
09/16 INSURANCE AUSTRALIA : Paul Ayton to lead combined broker Authorised Representati..
09/06 INSURANCE AUSTRALIA GROUP LTD : ex-dividend day for final dividend
08/22 INSURANCE AUSTRALIA : Daily Addict’s Carrie Kwan teams up with IAG to help..
08/19 INSURANCE AUSTRALIA : IAG announces $300 million off-market share buy-back
More news
Sector news : Property & Casualty Insurance - NEC
10:43a TOKIO MARINE : plans increase in FX-hedged foreign bonds
10/21 EXCLUSIVE : Dick's wins auction for U.S. business of bankrupt Golfsmith - source..
10/20DJTRAVELERS : Operating Profit Falls 24%
10/20DJTRAVELERS : Operating Profit Falls 24%
10/20DJSAMPO OYJ : Mandatum Life Will Not Prolong The Agency Agreement With Danske Bank
More sector news : Property & Casualty Insurance - NEC
News from SeekingAlpha
03/14 EWA : Getting In Down Under
2015 Is Buffett Purchasing Another Australian Company?
Financials ( AUD)
Sales 2017 8 371 M
EBIT 2017 1 363 M
Net income 2017 791 M
Debt 2017 -
Yield 2017 4,88%
P/E ratio 2017 17,12
P/E ratio 2018 16,20
Capi. / Sales 2017 1,65x
Capi. / Sales 2018 1,61x
Capitalization 13 786 M
More Financials
Duration : Period :
Insurance Australia Group  Technical Analysis Chart | IAG | AU000000IAG3 | 4-Traders
Full-screen chart
Technical analysis trends INSURANCE AUSTRAL...
Short TermMid-TermLong Term
Technical analysis
Income Statement Evolution
More Financials
Mean consensus HOLD
Number of Analysts 14
Average target price 5,54  AUD
Spread / Average Target -2,3%
Consensus details
EPS Revisions
More Estimates Revisions
Peter Harmer Chief Executive Officer, Executive Director & MD
Elizabeth Blomfield Bryan Chairman
Mark Milliner Chief Operating Officer
Nicholas B. Hawkins Chief Financial Officer
Claire Rawlins Group Executive-Technology & Digital
More about the company
Sector and Competitors
1st jan.Capitalization (M$)
SAMPO OYJ-10.43%25 576
ALLSTATE CORP8.89%25 114
More Results