BUZZ-Insurance Australia Group sinks as HY top-line growth, dividend disappoint

Insurance Australia Group IAG.AX falls 8.7% to A$8.14, set for worst day since Februray 2009, if losses hold

The general insurer posts HY gross written premiums (GWP)growth of 6%, lower than Citi's estimate of a 9.7% growth

Declares interim dividend of 12 Australian cents per share, below Citi's estimate of 13 cents and consensus estimate of 13.9 cents

Says its expects FY GWP growth towards lower end of its mid-to-high single digit forecast range

IAG's HY cash earnings and NPAT, however, beat estimates

"Some may be disappointed in the absence of a further buyback" — Citi

Stock down 4.4% YTD, including day's moves