June 19 (Reuters) - Insurance Australia Group Ltd (IAG) :
- SALE OF OPERATIONS IN THAILAND, INDONESIA AND VIETNAM
- DEAL AT SALE PRICE OF ABOUT $525 MILLION
- AFTER-TAX PROFIT OF AT LEAST $200 MILLION IS EXPECTED TO BE IDENTIFIED IN IAG'S FY19 RESULTS FROM COMBINED DEALS
- ENTERED INTO A SALE AGREEMENT WITH TOKIO MARINE & NICHIDO FIRE INSURANCE CO FOR IAG'S OPERATIONS IN THAILAND AND INDONESIA
- SEPARATE TO TRANSACTIONS WITH TOKIO MARINE, IAG TO SELL ITS 73.07% INTEREST IN AAA ASSURANCE CORPORATION, BASED IN VIETNAM
- BASED ON CAPITAL POSITION AT 31 DEC 2017, DEALS ARE EXPECTED TO ADD AT LEAST 13 BASIS POINTS TO IAG'S CET1 RATIO
- ALL TRANSACTIONS ARE EXPECTED TO CONCLUDE IN FINANCIAL YEAR ENDED 30 JUNE 2019
- IAG'S INTERESTS IN MALAYSIA AND INDIA WILL CONTINUE TO BE TREATED AS ASSOCIATES
- APPROXIMATELY 50 BASIS POINTS ENHANCEMENT TO REPORTED INSURANCE MARGIN IN FY18 AFTER DEALS
- COMBINED PROFIT FROM SALE OF THAILAND, INDONESIA AND VIETNAM WILL BE TREATED AS AN 'UNUSUAL ITEM' IN IAG'S FY19 RESULTS
- COMBINED PROFIT FROM SALE OF THAILAND, INDONESIA, VIETNAM WILL BE EXCLUDED FROM CASH EARNINGS FOR DIVIDEND CALCULATIONS
News: IAG Insurance Australia Group Announces Sale Of Operations In Thailand, Indonesia And Vietnam
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