IAG-RAC Insurance deal opposed by Australian antitrust regulator
( September 24, 2026, 01:08 GMT | Official Statement) -- MLex Summary: Insurance Australia Group's bid to acquire RAC Insurance from RACI, a wholly owned subsidiary of the Royal Automobile Club of Western Australia, has been blocked by the country’s competition regulator. In a statement published on Wednesday, the Australian Competition & Consumer Commission said the acquisition would combine two large insurers, resulting in a substantial increase in IAG’s market share and a significant increase in market concentration. IAG and RACI both supply motor vehicle insurance and home and contents insurance in Western Australia. The regulator’s determination follows its December 2025 decision to oppose IAG’s proposed strategic alliance with the Royal Automobile Club of Western Australia under the previous informal merger regime.Statement follows. Summary of reasons and analysis are attached....
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