Insurance 
Australia Group Ltd. (IAG), the largest auto and home insurer in Australia, has its eyes set on the $25 billion motor insurance market in UK. It has agreed to buy UK’s fifth largest auto insurer, Equity Insurance Group for a sum of $1.1 billion. This will be the Australian comany’s third buyout in UK within a short span of just two months. The acquistion was spurred by a 3.6% drop in IAG’s premium in the second half of 2005, due to rivalry in the home market. IAG (second largest insurer in Australia by premium income) hopes to make up for its waning sales in the home market with this acquisition.
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Australia Group Ltd. (IAG), the largest auto and home insurer in Australia, has its eyes set on the $25 billion motor insurance market in UK. It has agreed to buy UK’s fifth largest auto insurer, Equity Insurance Group for a sum of $1.1 billion. This will be the Australian comany’s third buyout in UK within a short span of just two months. The acquistion was spurred by a 3.6% drop in IAG’s premium in the second half of 2005, due to rivalry in the home market. IAG (second largest insurer in Australia by premium income) hopes to make up for its waning sales in the home market with this acquisition.For Complete IIPM Article, Click on IIPM Article
Source : IIPM Editorial, 2006
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