IAG to make public benefits application over blocked RAC deal in Australia
( September 24, 2026, 01:24 GMT | Official Statement) -- MLex Summary: Insurance Australia Group has confirmed that it will make a public benefits application after the Australian competition regulator opposed its bid to acquire RAC Insurance from RACI, a wholly owned subsidiary of the Royal Automobile Club of Western Australia. In a statement to the Australian Securities Exchange on Wednesday, IAG said it would seek a determination that the proposed alliance be allowed because it would result in a net public benefit. The company said that the RAC-IAG partnership would create long-term benefits for members, customers and communities across Western Australia through IAG's advanced technology platforms, claims management expertise, financial stability and global reinsurance protection. The public benefits phase is the next part of the regulator’s mandatory merger regime and is expected to take about 50 business days.Statement is attached....
Prepare for tomorrow’s regulatory change, today
MLex identifies risk to business wherever it emerges, with specialist reporters across the globe providing exclusive news and deep-dive analysis on the proposals, probes, enforcement actions and rulings that matter to your organization and clients, now and in the longer term.
Know what others in the room don’t, with features including:
- Daily newsletters for Antitrust, M&A, Trade, Data Privacy & Security, Technology, AI and more
- Custom alerts on specific filters including geographies, industries, topics and companies to suit your practice needs
- Predictive analysis from expert journalists across North America, the UK and Europe, Latin America and Asia-Pacific
- Curated case files bringing together news, analysis and source documents in a single timeline
Experience MLex today with a 14-day free trial.