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Insurance Australia Group Limited ( (AU:IAG) ) has shared an update.
Insurance Australia Group Limited (IAG) has received approval from the Australian Competition and Consumer Commission (ACCC) for its strategic alliance with RACQ Insurance Limited, allowing IAG to acquire RACQ Insurance and provide general insurance products to RACQ members and Queenslanders. This 25-year alliance, subject to further regulatory approvals, is expected to be completed in the third quarter of 2025 and will add approximately $1.3 billion to IAG’s Gross Written Premium. The partnership aims to leverage IAG’s scale and technology while maintaining RACQ’s brand and customer relationships, with anticipated synergies exceeding $50 million annually.
The most recent analyst rating on (AU:IAG) stock is a Hold with a A$6.60 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 operating in Australia and New Zealand. It underwrites over $16 billion of insurance premiums annually through various brands, including NRMA Insurance, RACV, CGU, and WFI in Australia, and NZI, State, AMI, and Lumley in New Zealand.
Average Trading Volume: 5,034,015
Technical Sentiment Signal: Buy
Current Market Cap: A$20.27B
Learn more about IAG stock on TipRanks’ Stock Analysis page.