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Insurance Australia Group Limited (ASX:IAG)

ALERT: Price-sensitive ASX Announcement for IAG
Current share price for IAG : $8.550 1.07 (14.30%)+
Announcement
Release
17 Apr 2026 9:15AM
Price at Release
$7.480
Full Release
download
Summary
Insurance Australia Group Limited's proposed acquisition of RAC Insurance is undergoing a Phase 2 review by the Australian Competition and Consumer Commission (ACCC) due to concerns that it could significantly reduce competition in motor vehicle and home and contents insurance in Western Australia. The acquisition would allow IAG to underwrite these insurances under the RAC brand. The ACCC has not reached a conclusion and has called for submissions by 4 May 2026. The review also includes potential impacts on smash repair services. This acquisition was previously reviewed under the informal regime in 2025, and is now under the formal merger regime starting 1 January 2026.
Key Points
  • IAG's proposed acquisition of RAC Insurance requires a Phase 2 review by the ACCC.
  • The acquisition could substantially lessen competition in motor vehicle and home and contents insurance in Western Australia.
  • IAG would underwrite motor and home insurance under the RAC brand.
  • The ACCC has not yet reached a conclusion and invites submissions by 4 May 2026.
  • The acquisition also impacts smash repair services.
  • IAG previously applied for clearance under the informal merger regime in 2025.
  • The formal merger regime under which the ACCC is reviewing began on 1 January 2026.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.