Insurance Australia Grp

Insurance Australia Group's shares fell 1.9 percent after the competition authority rejected for the second time the planned purchase of a state insurer in Western Australia. The company now intends to reapply for approval of the transaction. The decision weighs on the insurer's share performance in the short term. » Altro su finanzen.net

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. » Altro su 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%. » Altro su de.investing.com