June 28 (Reuters) - Insurance Australia Group ( IAUGF )

said on Friday that it has purchased reinsurance protection from

Berkshire Hathaway ( BRK/A ) and Canada Life Reinsurance to

mitigate natural perils volatility for the next five years.

The insurance giant also confirmed it is on track to achieve

FY24 reported insurance profit and margin around the upper end

of its outlook ranges.