sydneyinsurance australia group ltds annual insurance profit margin fell short of company guidance due to factors including a blowout in natural peril costs following rain that inundated large parts of the countrys east iag on friday reported an unaudited reported insurance profit for the 12 months through june of 586 million australian dollars us4064 million representing a margin of 74 that was down from 135 in the prior fiscal year and below iags 1012 guidance range the insurers said that net natural peril costs of a112 billion were a354 million above its original allowance its guidance for a 1416 margin in fy 2023 assumes a natural peril allowance of a909 million up by 19 on its fy 2022 allowance iag expects to report a a347 million net profit when it releases its audited fy 2022 results on aug 12 it posted a a427 million loss in fy 2021