Insurance Australia Group

Insurance Australia Group (IAG) is taking larger strides in order to produce 10% of its total gross written premium from Asia by 2016. Since August last year major acquisitions have included $100m for a 20% stake in China’s Bohai Insurance (reportedly at an estimated multiple of 4.5 times net tangible assets) and $288m for New Zealand’s AMI on a multiple of three times book value. Now IAG is planning to acquire Kurnia Insurans (Malaysia) Berhad through its 49% interest in Malaysian joint venture partner AmG. The price is two times book value and IAG is on the hook for...

Insurance Australia Group (IAG) is taking larger strides in order to produce 10% of its total gross written premium from Asia by 2016. Since August last year major acquisitions have included $100m for a 20% stake in China’s Bohai Insurance (reportedly at an estimated multiple of 4.5 times net tangible assets) and $288m for New Zealand’s AMI on a multiple of three times book value.

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