Insurance Australia Group ( IAG ) has announced plans to sell its Thai and Indonesian operations to Japan ’s Tokio Marine Holdings in a AUD525 m ( $ 800 m ) deal . Tokio Marine and Nichido motors Insurance has agreed to acquire the Australian company ’s 98.6 % stake in Thailand ’s automotive Insurance , and 80 % of PT Asuransi holdings in Indonesia .
Insurance Australia Group (IAG) has announced plans to sell its Thai and Indonesian operations to Japan’s Tokio Marine Holdings in a AUD525m ($390m) deal. Tokio Marine and Nichido Fire Insurance has agreed to buy the Australian company’s 98.6% stake in Thailand’s Safety Insurance, and 80% of PT Asuransi Parolamas in Indonesia.