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IAG-RAC Insurance deal to be reviewed under Australia's new merger regime

( March 4, 2026, 12:50 GMT | Official Statement) -- MLex Summary: Insurance Australia Group’s bid to acquire 100 percent of the issued share capital in RAC Insurance from RACI, a wholly owned subsidiary of the Royal Automobile Club of Western Australia, will be assessed under Australia’s new mandatory merger regime. In a statement on Wednesday, the Australian Competition & Consumer Commission said IAG and RACI are both active in the manufacture and supply of personal lines general insurance, including home insurance and motor insurance products in Australia. In December 2025, the regulator opposed IAG's plans to enter into a strategic alliance with the Royal Automobile Club of Western Australia under the previous informal merger regime, concluding that the acquisition would combine the two large insurers, giving IAG an overall market share of about 55–65 percent in motor vehicle insurance and 50–60 percent in home and contents insurance in Western Australia.Statement follows. Questionnaire is attached....

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