IAG Finalizes $855 Million Acquisition of RACQ Insurance Underwriting Business

IAG Expands Presence with Major RACQ Insurance Deal Completion

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Insurance Australia Group (IAG) has successfully completed its $855 million acquisition of the Royal Automobile Club of Queensland's (RACQ) insurance underwriting business.

This strategic move, announced on September 1, 2025, marks a significant expansion for IAG within the Australian insurance landscape.

The acquisition encompasses RACQ's comprehensive portfolio, including home, motor, and niche insurance products. As part of the agreement, IAG and RACQ have entered into a long-term distribution arrangement, ensuring that RACQ members will continue to access insurance products under the trusted RACQ brand.

For tradespeople across Australia, this development could lead to enhanced insurance offerings tailored to their specific needs. IAG's expanded portfolio may provide more comprehensive coverage options, potentially addressing common concerns such as financial loss from accidents or theft, legal liabilities, and equipment downtime.

It's essential for tradies to stay informed about these industry changes. Reviewing current insurance policies and consulting with insurance advisors can help ensure that coverage remains aligned with evolving business requirements and market offerings.

Published:Thursday, 25th Sep 2025
Author: Paige Estritori

Please Note: We do not endorse any specific products or companies. Some content is sourced from third parties, including press releases, and may not be independently verified for accuracy or completeness.

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Knowledgebase

Loss Ratio:
The ratio of claims paid by an insurer to the premiums earned, used as a measure of profitability.

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