(Re)in Summary
• Allianz Australia has partnered with the Royal Automobile Association of South Australia (RAA) in an AU$642m (US$417.2m) deal, acquiring RAA’s general insurance business,...
AU$855m (US$555m) deal includes a 25-year distribution agreement, with an option for IAG to purchase the remaining 10% underwriting business in two years.
Inconsistency with previous commitments was behind rejection of a proposed SG$1.85bn (US$1.38bn) capital reduction says MAS Chairman and Deputy PM Gan Kim Yong.