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IAG acquires RACQ – Australasian Paint & Panel

by Robert Van Pash (Editor)
December 2, 2024
in IAG
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IAG will acquire 90% of RACQ’s existing insurance underwriting business, with an option to acquire the remaining 10% in two years . The consideration of $855 million comprises net tangible asset value and entry into the exclusive 25-year distribution agreement.

RACQ Chief Executive Officer David Carter said, “RACQ is pleased to partner with IAG, a leading general insurance company in Australia, to help our 1.7 million members live and move safely, securely and sustainably into the…

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