Equity has confirmed that its £570m acquisition by Insurance Australia Group (IAG) has completed today.
The FSA and Lloyd's have granted regulatory approval to the purchase of the broker, which represents IAG's fourth major foray into the UK insurance market, following Hastings, Lloyd's managing agent Alba Group and Advantage, all of which were acquired last year.
Equity chief executive Neil Utley commented: “The completion process has been smooth and rapid, and as a management team we have retained focus on growing our business. IAG's strength and resources will provide the means to accelerate the execution of our expansion strategy.”
