Insurance Australia Group to buy RAC insurance arm, enters licensing deal

Reuters

2025/05/15

May 15 (Reuters) - Insurance Australia Group IAG.AX said on Thursday it will buy The Royal Automobile Club of Western Australia's insurance business and entered a licensing agreement for its home, motor and niche insurance products for a total of A$1.35 billion ($867.51 million).

($1 = 1.5562 Australian dollars)

(Reporting by Adwitiya Srivastava in Bengaluru; Editing by Alan Barona)

((Adwitiya.Srivastava@thomsonreuters.com))

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