Insurance Australia Group Limited announced that it has completed the purchase of the UK auto underwriter and broker Equity Insurance Group (See IJ web site Dec. 6), as of Jan. 8, 2007.
IAG noted that the total consideration was, as originally announced, A$1.397 billion (£570 million – US$1.12 billion). The acquisition has received the approval from Lloyds and the UK Financial Services Authority (FSA).
Neil Utley, Equity’s CEO, has joined IAG’s executive team, as of Jan. 8.
Was this article valuable?
Here are more articles you may enjoy.
As Parasite Spawned Chaos, Taylor Farms Slow-Walked Response 
Berry Producer Driscoll’s Sued Over Alleged Greenwashing, Use of Forever Chemicals 
Florida’s Share of Claims Lawsuits Now About Half of 2020 Numbers, Data Show 
US P/C Industry Books Best Result in a Decade but Not All Lines Enjoy Success 
