IAG Finalizes $855 Million Acquisition of RACQ Insurance Underwriting Business

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
Source: Paige Estritori

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Dictionary

Waiting Period

noun

The time period that must pass after filing a claim before the insurance coverage becomes effective or benefits are paid.

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