IAG sells businesses in Thailand, Indonesia to Tokio Marine

Insurance Australia Group Ltd. is selling its businesses in Thailand and Indonesia to Japan-based Tokio Marine and Nichido Fire Insurance Co. Ltd. for $525 million Australia ($389 million), The Sydney Morning Herald reported. Additionally, IAG is selling its stake in Vietnam-based insurer AAA Assurance Corp. IAG said that the transactions would be completed by June 2019. The insurer is also reviewing its minority stakes in businesses in Malaysia and India.

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