The competition umpire will further scrutinise IAG's proposal to acquire RAC's insurance business, warning it could “substantially lessen” insurance market competition in WA.
Insurance giant IAG has raised the spectre of Perth being hit by a big earthquake like in Christchurch to argue it should be allowed to buy RAC's insurance business.
The Motor Trades Association of Australia has made a last-minute call for industry players to respond to an ACCC survey on IAG's renewed bid to purchase RAC's insurance business.
The competition umpire has opposed IAG's $1.35 billion acquisition of RAC's insurance business, citing concerns around car and home insurance market dominance.
The Motor Trades Association has called on the competition regulator to block the takeover of RAC Insurance and its counterparts in QLD and SA by two industry giants.
The RAC has become the latest state-based motoring group to sell its insurance business, with Sydney-based IAG paying $1.35 billion for the WA business.
AMP chair Catherine Brenner has quit with immediate effect as the fallout widens from the fees-for-no-service scandal at the Financial Services Royal Commission.
SGIO has dropped plans to rebrand as sgi, forcing AFL club West Coast Eagles to recall merchandise adorned with a new sponsor's logo and replace it with shirts and guernseys featuring the insurance
Australia's big four banks and one insurance company have been ranked within the top 100 most sustainable companies in the world, with Commonwealth Bank of Australia leading the charge for the nation.
Wesfarmers has been given the tick of approval from the Australian Competition and Consumer Commission to divest its insurance underwriting businesses.
SPECIAL REPORT: The past 12 months have been tough for WA's corporate finance professionals, but there is cautious optimism that 2014 will be a different story.
