Acquirer(s)
- Insurance Australia Group Limited
Target(s)
- RAC Insurance Pty Limited
Summary
Insurance Australia Group Limited (IAG) proposes to acquire 100% of the shares in RAC Insurance Pty Limited (RACI) from the Royal Automobile Club of Western Australia Inc (RAC) and enter into a 20-year agreement for RAC to exclusively distribute insurance products underwritten by IAG under the RAC brand.
IAG is a general insurance company operating in Australia and New Zealand. IAG provides a range of personal and commercial insurance products under various brands, including NRMA Insurance, Swann Insurance, ROLLiN’, Cylo, and Lumley Special Vehicles.
RAC is a Western Australia based member-owned organisation that provides roadside products, general insurance products, and and other ancillary services to its members. RAC issues general insurance products to customers through its wholly owned subsidiary RACI. The proposed acquisition does not include RAC’s membership-based business, which includes the Club, its roadside assistance business, and its other businesses.
The parties overlap in the manufacture and supply of personal lines general insurance, including home and contents insurance and motor insurance.
On 11 December 2025, the ACCC announced that it would oppose the proposed acquisition. For more information, see the ACCC's media release: ACCC opposes IAG's proposed acquisition of RAC WA's insurance arm.
Market inquiries
| Document title | Date | |
|---|---|---|
| IAG RACI - Market inquiries letter |
Statement of issues
| Document title | Date | |
|---|---|---|
| IAG Limited - RAC Insurance Pty Ltd - Statement of Issues |
Timeline
| Date | Event |
|---|---|
ACCC commenced informal review under the Informal Merger Review Process Guidelines. |
|
Closing date for submissions. |
|
ACCC is seeking further information from the merger parties. Former provisional date for announcement of ACCC's findings (4 September 2025) is delayed. |
|
Former provisional date for announcement of findings (2 October 2025) brought forward to 4 September 2025. |
|
ACCC published a Statement of Issues outlining preliminary competition concerns. |
|
Closing date for submissions relating to Statement of Issues. |
|
Former proposed date for announcement of ACCC’s decision (27 November 2025) delayed to consider further information provided by the merger parties. |
|
ACCC announced it would oppose the proposed acquisition. |