The head of Australia's largest general insurance group says he is still open to the possibility of a merger with rival QBE if a better offer is made.
In May this year, Insurance Australia Group (IAG) rejected a takeover bid from QBE, which was worth nearly $9 billion, saying it was not high enough.
QBE then withdrew the offer.
But IAG chief executive Michael Wilkins has told a business lunch he is happy to talk to QBE's chief executive Frank O'Halloran if he wants to propose a revised deal.
"If QBE knocked on our door, I've known Frank for a long time, I'd be very happy to see him. I'd listen to what he has to say and then we'd decide after that," he said.
Mr Wlikins... Take the deal! JR
IAG Price at posting:
$3.67 Sentiment: Hold Disclosure: Held
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