Wesfarmers insurance insurance News

Perth, Australia-based conglomerate Wesfarmers has agreed to sell the insurance brokerage and premium funding operations of its Insurance division to subsidiaries of U.S.-based broker Arthur J. Gallagher & Co. for A$1,010 million (about U.S. $933 million). In addition to the …

Insurance Australia Group Ltd. agreed to buy Wesfarmers Ltd.’s insurance underwriting businesses in Australia and New Zealand for A$1.85 billion [US$1.653 billion] to become the largest insurer in Australia. Wesfarmers will record a pretax profit of as much as A$750 …