DONATE PART OF PROFITS TO CHARITY, SUGGESTS IAG EX-DIRECTOR

Shareholders of Insurance Australia Group (IAG) have been asked to donate 2% of the firm’s annual profits to charity under a new proposal by its former director Richard Talbot. Mr Talbot said that the proposal made “good commercial sense because many people will be drawn to insuring with a company in the knowledge that part of their premiums will end up going to charity”. At least 100 shareholders would need to sign a petition to have Mr Talbot’s motion on the issue put to this year’s annual general meeting of IAG, scheduled for November 11.