Insurance Australia Group’s first half profit has more than tripled and the company has raised its performance targets for the full year. IAG made a net profit of $461 million in the six months to December 31, up from $144 million in the previous corresponding period. Its insurance profit of $815 million in the six months was also significantly higher, up from $271 million for the same period the previous year. The results reflected a benign weather period in the half year, and improving financial markets. My comment: They're not very good with their predictions are they, and we pay the penalties. IAG owns CGU/SUU, NRMA, RACV, Swann, Buzz amongst others, so how about they reduce their premiums so that people can afford them?