Australian firm buys British insurer for €847m

Insurance Australia Group said today it had bought British motor underwriter and broker Equity Insurance Group for £570m (€846.9m).

Mon, 04 Dec, 2006 - 07:11

Insurance Australia Group said today it had bought British motor underwriter and broker Equity Insurance Group for £570m (€846.9m).

The Australian company said it would fund the purchase with an equity placement of £249m (€369.9m).

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