IAG today announced it had agreed to purchase the insurance underwriting businesses of Wesfarmers Limited for $1.845 billion, strengthening its position in its home markets of Australia and New Zealand. The acquisition comprises Wesfarmers underwriting companies trading under the WFI and Lumley Insurance brands, as well as a ten-year distribution agreement with Coles.
Gerty Dancer said
07:09 PM Dec 17, 2013
It all sounds incestuous to me!
brian said
07:14 PM Dec 17, 2013
Gerty Dancer wrote:
It all sounds incestuous to me!
Why does it sound incestuous?
IAG have no other connection to Wesfarmers.
My concern is that Coles insurance, which has been up to 40% cheaper than IAG's NRMA insurance will soon be just as expensive.
There goes the competition.
The dog lady said
12:24 AM Dec 20, 2013
They're not the only ones. Suncorp now own AAMI, Apia, Just Car Insurance, Shannons, InsureMyRide, Vero, Terri Scheer, Bingle, CIL, Asteron and Tyndall insurance brands in Australia, plus more in NZ.
Competition? It's an illusion
brian said
11:41 AM Dec 20, 2013
The dog lady wrote:
They're not the only ones. Suncorp now own AAMI, Apia, Just Car Insurance, Shannons, InsureMyRide, Vero, Terri Scheer, Bingle, CIL, Asteron and Tyndall insurance brands in Australia, plus more in NZ.
Competition? It's an illusion
You missed GIO, AMP and Promina plus their underwritings of the RACQ and RAA motor club insurances in that Suncorp list.
Baz421 said
10:00 PM Dec 20, 2013
brian wrote:
Gerty Dancer wrote:
It all sounds incestuous to me!
Why does it sound incestuous?
IAG have no other connection to Wesfarmers.
My concern is that Coles insurance, which has been up to 40% cheaper than IAG's NRMA insurance will soon be just as expensive.
There goes the competition.
What competition are you referring to? IAG buys another competitor IMHO this is LESS competition.
IAG today announced it had agreed to purchase the insurance underwriting businesses of Wesfarmers Limited for $1.845 billion, strengthening its position in its home markets of Australia and New Zealand. The acquisition comprises Wesfarmers underwriting companies trading under the WFI and Lumley Insurance brands, as well as a ten-year distribution agreement with Coles.
Why does it sound incestuous?
IAG have no other connection to Wesfarmers.
My concern is that Coles insurance, which has been up to 40% cheaper than IAG's NRMA insurance will soon be just as expensive.
There goes the competition.
They're not the only ones. Suncorp now own AAMI, Apia, Just Car Insurance, Shannons, InsureMyRide, Vero, Terri Scheer, Bingle, CIL, Asteron and Tyndall insurance brands in Australia, plus more in NZ.
Competition? It's an illusion
You missed GIO, AMP and Promina plus their underwritings of the RACQ and RAA motor club insurances in that Suncorp list.
What competition are you referring to? IAG buys another competitor IMHO this is LESS competition.