On 23 September 2026, the Australian Competition and Consumer Commission’s (ACCC) blocked Insurance Australia Group’s (IAG.AX) planned takeover of RAC Insurance.
Background:
- takeover could reduce competition in the supply of motor vehicle insurance and home and contents insurance in Western Australia;
- takeover would result in a substantial increase in IAG’s market share and a significant increase in market concentration;
- IAG shares fell 2.2% in early trade, their lowest since September 10;
- full story here.