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IAG-RACWA insurance deal opposed by Australian competition regulator

( December 11, 2025, 00:45 GMT | Official Statement) -- MLex Summary: Insurance Australia Group's plans to enter into a strategic alliance with the Royal Automobile Club of Western Australia to provide general insurance products for local members has been rejected by the country’s competition regulator. In a statement on Thursday, the Australian Competition & Consumer Commission said 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. While RACWA is the market leader in both motor vehicle insurance and home and contents insurance in Western Australia, IAG is one of the two largest personal insurers in Australia and is also a strong performer in Western Australia.Statement follows:...

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