Acquirer(s)
- Insurance Australia Group Limited
Target(s)
- RACQ Insurance Limited
Summary
Insurance Australia Group Limited (IAG) proposes to acquire 90% of the shares in RACQ Insurance Limited (RACQI) from The Royal Automobile Club of Queensland Limited (RACQ), with an option to acquire the additional 10% after two years.
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.
RACQ is a Queensland based member-owned organisation that provides roadside assistance, insurance, banking, and member/community services. RACQ issues general insurance products to customers through its wholly-owned subsidiary RACQI. The proposed acquisition does not include RACQ’s membership-based business, which includes its roadside assistance business.
The parties overlap in the manufacture and supply of personal lines general insurance, including home, contents and motor insurance.
Market inquiries
Submissions are invited from interested parties regarding IAG’s proposed acquisition of RACQI by 14 February 2025.
Submissions should be forwarded electronically (preferably in PDF format) to mergers@accc.gov.au.
For more details, please refer to the Market Inquiries Letter published below.
Following 14 February 2025, queries regarding the ACCC’s review may also be addressed to mergers@accc.gov.au.
Market inquiries
| Document title | Date | |
|---|---|---|
| IAG / RACQ Insurance - Market inquiries letter - 31 January 2025 |
Timeline
| Date | Event |
|---|---|
ACCC commenced review under the Informal Merger Process Guidelines. |
|
Closing date for submissions. |
|
ACCC is seeking further information from the merger parties. Former provisional date for announcement of ACCC's findings (24 April 2025) is delayed. The ACCC will announce a revised provisional decision date in due course. |