Under the strategic alliance, IAG will acquire 90% of RACQ’s existing insurance underwriting business, with an option to acquire the remaining 10% in two years on consistent terms. The consideration of $855 million[1] 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…
