IAG lets go of China dream

With a management shakeup this general insurer has put its ambitions in China behind it, while a deal with Warren Buffett has freed up capital.

As a general rule, we’re about as comfortable with Asian ‘growth-by-acquisition’ strategies as we are with eye injections. 

So it was a relief to hear that Insurance Australia Group (IAG) has back-flipped on its desire to establish a ‘national presence’ in China and has instead ‘determined not to pursue further investment’.

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