IAG, one of Australia’s leading general insurers, and RACQ have announced that 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 amounts to A$855m ($555m).
Both sides will also enter a 25-year exclusive strategic alliance to provide RACQ general insurance products and services for RACQ members and Queenslanders. RACQ will maintain the role of marketing,…
