Insurance Australia Grp

IAG has completed the conversion and redemption of all outstanding 1.125% senior unsecured convertible bonds maturing in 2028 (ISIN XS2343113101). Bondholders exercised their conversion rights, and IAG made a cash settlement instead of delivering shares and paid the final settlement amount. As a result, no bonds of this series remain outstanding; the transaction followed several notifications to the CNMV. » More on de.investing.com

Shares of Insurance Australia Group rose about 5% to A$7.945 after reports named Tokio Marine as a potential buyer. Suncorp and Intact Financial are also seen as possible targets, and it is unclear whether a formal approach has been made. A past stake by Berkshire in Tokio and a cooperation agreement could ease international takeovers. Strong broker results for the sector also supported sentiment, and the ASX 200 gained 0.6%. » More on de.investing.com

IAG reached a confidential settlement in proceedings with Greensill Bank and discontinued the case in July 2026. However, the settlement and other ongoing legal disputes led to increased costs in the trade credit insurance area for the fiscal year ended 30 June 2026. IAG released prior-period provisions amounting to USD 84 million; these were partly offset by increases in provisions for private property and motor insurance and by additional litigation costs. The company maintains that the settlement is not expected to have a material effect on its financial position or results for the reporting year. » More on de.investing.com