15-05-2025
IAG to buy RAC insurance for $1.35 billion
Western Australia's state motoring organisation, the RAC of WA, has entered a strategic alliance with Australia's biggest insurer, IAG.
IAG will buy RAC Insurance and a 20-year exclusive distribution for RAC-branded insurance in Western Australia.
The price is $1.35 billion, $400 million for the insurance division and $950 million for the distribution deal.
Last November, IAG paid $855 million for a 25-year deal to sell insurance to Royal Automobile Club of Queensland members.
