Business Insurance will be back online in October. Please check back then to subscribe/register.

All existing subscriptions will be honored. Contact with any questions.


New Zealand: Commerce Commission clears IAG to buy Wesfarmer's Lumley unit

Comments Email Reprints

The New Zealand Commerce Commission has given clearance to Insurance Australia Group Ltd. to acquire Wesfarmers Ltd.'s Lumley General Insurance (NZ) Ltd., reports The National Business Review.

The commission said it is "confident that IAG's purchase of Lumley will not materially change the provision of services or the ability of customers to shop around," adding that it "is satisfied competition remains."

The deal, which would move Wesfarmers' Lumley Insurance and WFI brands to IAG, is subject to further regulatory clearances.

Read more

More from BI