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Insurance Australia Group Limited ( (AU:IAG) ) has shared an announcement.
The Australian Competition and Consumer Commission (ACCC) has opposed IAG’s proposed strategic alliance with The Royal Automobile Club of Western Australia (RAC) to provide general insurance products and services. Despite this setback, IAG plans to apply for assessment under the new mandatory merger control regime starting in 2026. The alliance aims to enhance the RAC member experience, bolster resilience against industry challenges, and support local community initiatives, leveraging IAG’s national presence, technological investments, and capital management.
The most recent analyst rating on (AU:IAG) stock is a Hold with a A$8.80 price target. To see the full list of analyst forecasts on Insurance Australia Group Limited stock, see the AU:IAG Stock Forecast page.
More about Insurance Australia Group Limited
Insurance Australia Group Limited (IAG) is a leading general insurance company with operations in Australia and New Zealand. The company underwrites over $17 billion in insurance premiums annually through various well-known brands such as NRMA Insurance, RACV, CGU, and WFI in Australia, and NZI, State, AMI, and Lumley in New Zealand.
Average Trading Volume: 4,878,768
Technical Sentiment Signal: Buy
Current Market Cap: A$18.5B
For a thorough assessment of IAG stock, go to TipRanks’ Stock Analysis page.