Innovation

Insurance Australia Group will review UK business

Jaclyn Densley /

Insurance Australia Group will review its business in Britain, the company announced this morning.

The business owns Equity Red Star insurance in Britain, the fifth largest motor insurer in the country, along with commercial insurance group Barnett & Barnett.

Chief executive Mike Wilkins said it was a good time to review the company’s business in the region.

“Given the progress towards that goal in the opening half of the current financial year, we believe the time is right to consider our longer term plans for the business, and the best way to maximise shareholder value,” he said, according to AAP.

The result of such a review could include a sale or a retooling of the business strategy.

This article first appeared on SmartCompany.

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