Latest Australian Insurance Market News

The ACCC has opposed IAG’s proposed acquisition of RAC Insurance in Western Australia, citing concerns it would stifle competition and lead to higher premiums and reduced product quality.

Insurance Australia Group (IAG) has entered a strategic alliance with The Royal Automobile Club of Western Australia (RAC), acquiring RAC Insurance and securing a 20-year exclusive distribution agreement. This move significantly boosts IAG's presence in Western Australia and is expected to enhance earnings and operational synergies.