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IAG Secures $1.35B Deal to Expand Insurance Reach with RAC WA
2:29am on Monday 2nd of June, 2025 AEST
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Insurance
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IAG Secures $1.35B Deal to Expand Insurance Reach with RAC WA
2:29am on Monday 2nd of June, 2025 AEST
Key Points
IAG acquires 100% of RAC Insurance for $400 million
Secures 20-year exclusive distribution and brand licensing deal for $950 million
Adds approximately $1.5 billion in gross written premium to IAG’s portfolio
Deal expected to be mid-single digit EPS accretive in first full year
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