IAG, the country's largest insurer, has reported a significant increase in insurance profit in the 12 months to the end of June.

The company, which owns the State, AMI and NZI brands, said it had collected 19 percent more in premiums from retail customers in New Zealand than in the previous year.

Chief executive Amanda Whiting says the company has worked through a big year for the sector. 

"We've been focusing on supporting customers who we know have been experiencing cost of living challenges - so we've been doing a fair bit around that, we've been making sure that we're bolstering our customer care."

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