IAG's New Zealand premium income fell 2.7% in FY26, as its direct home and motor business grew.
In its FY26 results on 13 August, IAG said gross written premium dropped to NZ$4,060m in local currency terms.
IAG said that reflected "solid growth and momentum in the direct home and motor portfolios, and continued discipline in Intermediated business".
The release didn't give a separate New Zealand figure for either channel.
The release also gives group-reported New Zealand figures, with no currency label and separate from the NZ$4,060m above. On that basis premium fell 8.0% to $3,504m, from $3,807m the year before. IAG said that was "significantly impacted by a weakening New Zealand dollar".
It described the market this way: "The results reflect different market conditions which are positive for retail and challenged for commercial segments."
Across Australia and New Zealand together, IAG said retail direct premium grew about 5%. The release didn't split that between the two countries.
The weather kept IAG busy. Chief executive Nick Hawkins said:
"Throughout FY26, we actively managed our response to 65 severe weather events across Australia and 44 in New Zealand."
IAG paid out more than $12.4 billion in claims over the year across both countries. The release didn't say how much of that was in New Zealand.
It also reported a customer experience score, known as tNPS, of 63.0 in New Zealand and 54.7 in Australia.
Hawkins said IAG has "good growth momentum in our Australian and New Zealand retail segments". He said the company will "continue to focus on organic opportunities to increase our market share".
For the whole group, whose figures the release also gives without a currency label, IAG made a net profit after tax of $1,022m, down from $1,359m. Total gross written premium rose 7.6% to $18,412m.
The release doesn't mention New Zealand pricing or any change to what customers pay. It also gives no separate New Zealand claims total or profit figure.
