IAG insurance australia group limited
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News: IAG IAG Says To Get A$340 Mln From Sale Of Interest In Malaysian Business

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    19/07/21
    19:30
    Post #: 54611918

    July 19 (Reuters) - Insurance Australia Group Ltd (IAG) :

    • POTENTIAL SALE OF IAG'S INTEREST IN MALAYSIAN BUSINESS
    • IAG'S SHARE OF SALE PROCEEDS WILL BE A$340 MILLION
    • EXPECTS TO INCUR A LOSS OF APPROXIMATELY A$901 MILLION FROM DEAL
    • A$901 MILLION LOSS FROM DEAL WILL BE RECOGNISED IN FY21 RESULTS
    • SALE EXPECTED TO RESULT IN INCREASE IN REGULATORY CAPITAL POSITION OF ABOUT A$150 MILLION
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