The ratings agency affirmed Income Insurance's ‘AA-’ rating with stable outlook after Allianz's failed acquisition bid, citing continued Singapore government support.
The withdrawal caps a contentious five-month period since the proposed takeover was first announced, during which the deal faced strong public pushback.
(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,...