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IAG-RAC Insurance deal referred to in-depth review by Australian regulator

( April 17, 2026, 00:56 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 proceed to an in-depth Phase 2 review under Australia's new mandatory merger regime, the competition regulator said. In a statement on Friday, the Australian Competition and Consumer Commissioner said the acquisition would combine two of Western Australia's largest insurers and could substantially lessen competition in both the supply of motor vehicle insurance and home and contents insurance. The regulator said it is inviting submissions on the deal until May 4. ...

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