Business Services Industry
AUSTRALIA'S IAG IN TALKS WITH JAPAN INSURER ON ASIAN EXPANSION.
AsiaPulse News, June, 2002
SYDNEY, June 25 Asia Pulse - Insurance Australia Group (ASX:IAG) has entered talks with a Japanese life insurer on ways they can develop their businesses in Asia.
IAG, the former NRMA Insurance Group, has begun talks with Aioi Insurance Company Ltd "to explore areas for mutual cooperation" and develop lines of business, particularly motor vehicle insurance.
IAG chief executive Michael Hawker said the talks marked the start of IAG's aim to spread its wings overseas to help drive earnings growth.
"We are pleased to be entering into this agreement with a company of Aioi's reputation, as it will provide opportunities to explore joint initiatives that can benefit both companies," he said.
"Our partnership with Aioi is a good fit. Our...
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