GWP growth in focus for Aussie general insurers as tailwinds fade, says Jefferies

** Analysts at Jefferies say markets will focus on gross written premiums (GWP) growth for Australian insurers this reporting season

** Says GWP in focus as boost from higher interest rates and mid-teens premium hikes in prior periods begin to unwind

** Brokerage says Insurance Australia Group IAG is expected to report FY25 insurance profit of A$1.74 bln ($1.13 bln), up 21%, with perils claims tracking A$200 mln below budget

** Investors will focus on GWP growth and integration of RACQ post its acquisition, adds Jefferies

** Jefferies expects analysts to eye catastrophe exposure after a volatile H1 for QBE Insurance QBE, though claims are seen within budget

** Adds investor focus will be on capital management and performance under the new re-insurance structure at Suncorp SUN

** Expects QBE's FY26 earnings to be 8% higher, while IAG and SUN to decline by 9% and 7%, respectively

** Maintains "buy" rating on both IAG and QBE and "hold" call on SUN

($1 = 1.5385 Australian dollars)