Live: ASX 200 slips, Westpac profit misses analyst expectations in competition squeeze

ASX opens lower, Westpac posts a third-quarter net profit of $1.8 billion as bigger margins from higher interest rates are partly offset by higher costs.

Insurance giant IAG has flagged further premium rises, after reporting a lift in profits.

The result included a turnaround from losses in investment markets one year ago, but inflation also increased motor and homes claims and IAG's natural perils allowance.

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