In the opinion of the Directors of Insurance Australia Group Limited, the accompanying concise financial report of the Consolidated entity, comprising Insurance Australia Group Limited and its controlled entities for the year ended 30 June 2006, set out on pages 62 to 76:

(a) has been derived from or is consistent with the full financial report for the financial year; and

(b) complies with Accounting Standard AASB 1039 Concise Financial Reports.

Signed at Sydney this 25th day of August 2006 in accordance with a resolution of the Directors.

James Strong
Director

Michael Hawker
Director