Insurance Australia Group’s acquisition of AMI Insurance’s good assets cleared

By CPI | February 29, 2012

New Zealand’s Commerce Commission has cleared Insurance Australia Group’s proposed acquisition of AMI Insurance’s “good” assets. A government bailout has led to the transfer of AMI’s liabilities to a state-owned company. The Commission did not find that the NZ $380 million deal would significantly lessen competition in the market for house, property, and motor vehicle insurance.