Allianz Australia Insurance’s proposed acquisition of RAA Insurance will consolidate its Top Four market position in Australia’s property/casualty insurance sector, says S&P Global Ratings (S&P).
RAA Insurance is the Royal Automobile Association of South Australia’s insurance arm, and the deal, announced on 2 December, includes a 20-year exclusive distribution agreement for home and motor insurance products with the association’s members.
S&P does not expect the A$642m…
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