544:
Insurance
Manufacturers of Australia Pty Limited (IMA), which is 70% owned by IAG and 30% by RACV. If one of IMA's shareholders were to experience a change of control, the other has a pre-emptive right to acquire that shareholder's interest in IMA at market value. The duration of the arrangements governing RACV's distribution of RACV-branded products in Victoria would be a relevant factor in determining this market value (as would the duration of the arrangements governing IMA's reinsurance of NRMA-branded products in NSW and the ACT).
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70 cents per IAG share. On 14 April 2008, IAG also rejected this proposal. On 16 May 2008, QBE increased its proposal to 0.145 QBE shares plus 90 cents per IAG share (an effective value of $ 4.60 per IAG share at the time). This was rejected by IAG four days later and on 21 May 2008 QBE confirmed talks had collapsed and withdrew its proposal.
551:
In 2015, IAG share price has fallen 9% since it reported its interim result. The insurer's net profit for the six months to
December fell 10% to $ 579m due to intensifying competition and a jump in natural disaster claims. Disaster claims of $ 421m exceeded the company's expectations by $ 71m, mainly
543:
Important items that were considered when QBE made its proposal: IAG's short tail personal insurance products are distributed in
Victoria under the RACV brand, via a distribution relationship and underwriting joint venture with RACV Limited. These products are distributed by RACV and manufactured by
539:
On 10 April 2008, QBE proposed a takeover, with each IAG share being exchanged for 0.135 QBE shares plus 50 cents cash (an effective value of $ 3.75 per IAG share at the time). This proposal was rejected by the IAG board the next day. QBE responded by increasing its proposal to 0.142 QBE shares plus
392:
The NRMA Insurance business demutualised in July 2000, separating from NRMA, with an issue of shares to NRMA members. NRMA Insurance Group
Limited changed its name to Insurance Australia Group Limited on 15 January 2002, according to its website. IAG is an umbrella organization with numerous well
547:
On 16 December 2013 IAG announced that it had agreed to purchase
Wesfarmers Insurance underwriting businesses. The acquisition comprised companies trading under the WFI and Lumley brands, as well as a ten-year distribution agreement with Coles.
767:
744:
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517:
Malaysia - IAG owns 49% of the general insurance arm of
Malaysian-based AmBank Group, AmGeneral Holdings Berhad, which trades under the AmAssurance and Kurnia brands
555:
IAG's New
Zealand business delivered a 26% rise in gross written premiums, though entirely on account of adding Wesfarmers' NZ-based operations. The underlying
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increased from 14.2% to 15.9% due to a period of few natural disasters but the company is still feeling pain from the massive 2011 Canterbury earthquakes.
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Insurance
Australia Group has operations in Australia and New Zealand and a presence in five countries in Asia. Its businesses and brands include:
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acquired a 3.7 percent stake in the group for a fee of around $ 388 million in a partnership aimed at reducing IAG's capital requirements.
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89:
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Thailand - IAG holds a 98.6% beneficial interest in Safety
Insurance, based in Thailand, which trades under the Safety and NZI brands
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IAG has a 70% shareholding in
Insurance Manufacturers of Australia Pty Limited (the other 30% being held by
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on account of $ 165m in claims following Brisbane's November hail storm – the worst seen in 30 years.
367:
381:. IAG had its origins in the National Roads and Motorists' Association NRMA. It is headquartered in
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In 2014, IAG signed a ten-year agreement to distribute home and car policies for Coles Insurance.
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In 2004, there was speculation that IAG would merge with Australia's then largest insurer
466:), which issues insurance under the RACV Insurance name that is sold by RACV in Victoria.
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333:, Swann Insurance, NZI, AMI Insurance, NZI Thailand, Safety Insurance, AmAssurance,
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536:, however IAG denied the merger. Speculation emerged and was denied again in 2006.
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company in Australia, and also the largest in New Zealand through its subsidiary
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768:"Buffett's Berkshire Hathaway takes $ 388 million stake in Australia's IAG"
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Nick Hawkins (managing director and CEO, executive director)
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Tom Pocket (chair and independent non-executive director)
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Companies listed on the Australian Securities Exchange
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Vietnam - IAG owns 63.17% of AAA Assurance Corporation
346:
49:. Unsourced material may be challenged and removed.
523:Indonesia - IAG owns 80% of PT Asuransi Parolamas.
393:known insurance brands it has acquired. The name
1148:Financial services companies established in 2000
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191:2000 (renamed from NRMA Insurance Group in 2002)
817:
765:
1153:Financial services companies based in Sydney
824:
810:
658:"IAG acquires NRMA's MotorServe business"
337:, Coles Insurance, WFI, ROLLiN' Insurance
109:Learn how and when to remove this message
611:"IAG : Everything you need to know"
737:
397:is not itself a customer-facing brand.
1135:
685:"Insurance duo tipped to tie the knot"
605:
603:
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699:"QBE, IAG hose down takeover rumour"
47:adding citations to reliable sources
18:
713:"Public offers and proposals (FAQ)"
600:
13:
14:
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449:Swann Insurance, acquired in 2003
360:Insurance Australia Group Limited
199:Level 13, Tower Two, Darling Park
124:Insurance Australia Group Limited
1143:Insurance companies of Australia
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738:Witcomb, Graham (4 March 2015).
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1163:Companies in the S&P ASX 50
683:Hoyle, Simon (6 October 2004).
34:needs additional citations for
1168:Holding companies of Australia
957:Fisher & Paykel Healthcare
766:Lincoln Feast (16 June 2015).
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745:Intelligent Investor (Company)
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402:Australian Securities Exchange
16:Insurance company in Australia
1:
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504:Swann Insurance (New Zealand)
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662:Insurance Business Australia
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404:and is a constituent of the
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701:. The Age. 13 January 2006.
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485:NZI (New Zealand Insurance)
373:company. It is the largest
58:"Insurance Australia Group"
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740:"IAG: Interim result 2015"
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455:MotorServe, acquired 2019
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496:Lumley, acquired in 2014
1072:Sydney Airport Holdings
1002:Northern Star Resources
997:National Australia Bank
597:IAGL 2017 annual report
508:
576:Insurance in Australia
715:. IAG. Archived from
615:Insurance Business NZ
452:WFI, acquired in 2014
400:IAG is listed on the
982:Magellan Global Fund
850: →
43:improve this article
862:As of 28 April 2021
837:←
719:on 16 February 2008
307:Number of employees
281:11.8 billion (2017)
125:
1027:Ramsay Health Care
877:Aristocrat Leisure
664:. 21 November 2019
637:"About MotorServe"
564:Berkshire Hathaway
493:, acquired in 2012
487:, acquired in 2003
481:, acquired in 2001
446:, acquired in 2003
440:, acquired in 1998
434:, acquired in 1998
301:929 million (2017)
123:
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992:Mineral Resources
932:Commonwealth Bank
855:
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500:Lantern Insurance
458:ROLLiN' Insurance
375:general insurance
357:
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201:201 Sussex Street
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1052:Sonic Healthcare
887:Auckland Airport
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335:Lumley Insurance
321:NRMA Insurance,
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1112:Woodside Energy
1107:WiseTech Global
977:Macquarie Group
947:Endeavour Group
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853:S&P/ASX 200
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479:State Insurance
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379:IAG New Zealand
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834:S&P/ASX 20
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787:External links
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562:In June 2015,
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1042:Scentre Group
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1007:QBE Insurance
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846:companies of
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557:profit margin
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534:QBE Insurance
522:
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491:AMI Insurance
489:
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451:
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444:CGU Insurance
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368:multinational
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323:CGU Insurance
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99:December 2006
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63:
60: –
59:
55:
54:Find sources:
48:
44:
38:
37:
32:This article
30:
26:
21:
20:
972:James Hardie
966:
772:. Retrieved
761:
749:. Retrieved
743:
733:
721:. Retrieved
717:the original
707:
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678:
666:. Retrieved
661:
652:
640:. Retrieved
631:
619:. Retrieved
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554:
550:
546:
542:
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531:
468:
461:
415:
399:
394:
391:
363:
359:
358:
317:Subsidiaries
196:Headquarters
138:Company type
120:
105:
96:
86:
79:
72:
65:
53:
41:Please help
36:verification
33:
1087:TPG Telecom
1017:Reece Group
927:Coles Group
617:. Key Media
473:New Zealand
217:New Zealand
211:Area served
1137:Categories
1117:Woolworths
1097:Wesfarmers
1092:Transurban
723:8 February
687:. The Age.
668:8 December
642:8 December
582:References
412:Operations
288:Net income
251:commercial
232:Key people
69:newspapers
1062:Stockland
1032:Rio Tinto
1012:REA Group
952:Fortescue
912:BlueScope
848:Australia
770:. Reuters
621:18 August
428:Insurance
420:Australia
387:Australia
371:insurance
265:insurance
215:Australia
205:Australia
182:Insurance
170:component
150:Traded as
922:Cochlear
917:Brambles
872:Afterpay
751:14 March
570:See also
263:contents
243:Products
224:Malaysia
220:Thailand
178:Industry
1102:Westpac
1082:Telstra
1077:Tabcorp
1067:Suncorp
1057:South32
962:Goodman
528:History
408:index.
366:) is a
342:Website
311:13,500+
270:Revenue
255:vehicle
247:General
188:Founded
161::
83:scholar
1037:Santos
1022:ResMed
987:Mirvac
774:20 May
383:Sydney
142:Public
85:
78:
71:
64:
56:
942:Dexus
882:Amcor
90:JSTOR
76:books
1122:Xero
1047:Seek
776:2021
753:2015
725:2008
670:2021
644:2021
623:2022
509:Asia
464:RACV
438:SGIC
432:SGIO
426:NRMA
349:.com
331:SGIC
327:SGIO
261:and
259:home
62:news
967:IAG
937:CSL
907:BHP
902:ASX
897:APA
892:ANZ
395:IAG
364:IAG
351:.au
347:iag
299:A$
279:A$
163:IAG
159:ASX
45:by
1139::
742:.
660:.
613:.
602:^
590:^
389:.
385:,
329:,
325:,
257:,
253:,
249:,
825:e
818:t
811:v
778:.
755:.
727:.
672:.
646:.
625:.
362:(
112:)
106:(
101:)
97:(
87:·
80:·
73:·
66:·
39:.
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