Insurance Australia : IAG appoints new directors

Dr Nugent is chairman of Australian Rail Track Corporation, a non-executive director of Origin
Energy, and chairman of the National Portrait Gallery.

Mr Boyle is chairman of TAL Dai-ichi Life Australia and a former non-executive director of QBE
Insurance Group, Stockland Property Group and Clayton Utz.

IAG's chairman Elizabeth Bryan said the appointments provide the IAG Board with additional
strength in the areas of financial services and insurance, as well as more general strategic and
corporate experience.

'We are very pleased to have the benefits of the deep experience that Helen and Duncan bring
to the Board,' she said.

Additional biographical information on Dr Nugent and Mr Boyle

Dr Nugent has over 30 years' experience in the financial services sector, including as former
chairman of the following companies: Veda Group, Funds SA, Swiss Re (Australia) and Swiss
Re (Life and Health) Australia. She has also been a non-executive director of Macquarie Group,
Mercantile Mutual, and the State Bank of New South Wales.

Dr Nugent has held senior roles as director of strategy at Westpac Banking Corporation;
professor and director of the MBA Program at the Australian Graduate School of Management;
and principal of McKinsey & Company, where she specialised in the financial services and
resources sectors. She has also held a number of community-focused roles in education and
the arts.

Mr Boyle's executive career included senior roles with a variety of financial and corporate
institutions, including Royal and Sun Alliance Insurance in Australia, New Zealand, the United
Kingdom and Europe. He has also held various board roles with the Association of British
Insurers, the Insurance Council of Australia, Global Aviation Underwriting Managers, AAMI and
APIA.