ACCC again blocks sale of RAC WA's insurance arm to Sydney-based IAG
In short:
The competition regulator has again blocked the sale of RAC to the east-coast-based IAG, saying it would reduce competition in WA's insurance markets and increase premiums.
The RAC maintains that members would be better off under a national insurer that would "strengthen RAC's ability to respond to a changing insurance landscape" and reduce the risk it carries alone.
What's next?
IAG will now lodge a public benefit application with the watchdog, which will then decide whether any public benefit from the acquisition would outweigh the detriment.
