Finance
Allianz, IAG Said to Mull Bids for Top Western Australia Insurer
- Deal may give boost to Allianz after setbacks in other places
- Large insurers are vying for ways to increase their scale
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Insurance firms Allianz SE and Insurance Australia Group Ltd. are among parties considering bidding for Western Australia’s top insurer, according to people familiar with the matter.
Allianz and IAG are mulling the offers for the insurance arm of The Royal Automobile Club of Western Australia, according to the people, who declined to be identified discussing confidential information. The firm tapped Barrenjoey to run a strategic review of this business, the Australian Financial Review reported late last year.