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Insurance Australia Group Limited ( (AU:IAG) ) has issued an announcement.
The Australian Competition and Consumer Commission (ACCC) has expressed concerns over IAG’s proposed acquisition of RAC Insurance Pty Limited, citing potential reductions in competition within Western Australia’s motor and home insurance markets. The ACCC fears that the acquisition could lead to increased premiums and reduced service quality, as well as limit competitors’ access to repair services, thereby affecting market competitiveness.
The most recent analyst rating on (AU:IAG) stock is a Hold with a A$9.50 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 general insurance company listed on the ASX, operating in Australia and New Zealand. It offers a variety of personal and commercial insurance products through its owned brands like NRMA and Swann Insurance, and intermediated insurance through brokers under the CGU and WFI brands. IAG also collaborates with financial institutions to distribute insurance products.
Average Trading Volume: 4,415,232
Technical Sentiment Signal: Buy
Current Market Cap: A$20.72B
Find detailed analytics on IAG stock on TipRanks’ Stock Analysis page.