Herbert Smith Freehills advises IAG on 25-year strategic alliance with RACQ

Herbert Smith Freehills is pleased to have advised IAG on its $855 million strategic alliance with RACQ. The strategic alliance is by way of an up-front acquisition of 90% of RACQ’s insurance underwriting business and a 25-year exclusive distribution agreement with RACQ, with an option to acquire the remaining 10% on consistent terms.

IAG is one of Australia’s leading general insurance providers, and its partnership with RACQ, Queensland’s largest club and motoring organisation, with…