UPDATE 2-Australia's IAG expands into UK motor insurance

Newswire

(Adds analyst, CEO comments) MELBOURNE, Sept 29 (Reuters) - Insurance Australia Group Ltd. agreed to buy Britain's fifth-largest car insurance broker Hastings Insurance Services Ltd. and car insurer Advantage Insurance Co. for A$350 million ($261 million) in its first move into Europe. IAG, Australia's second-largest general insurer by premium income, said in August it wanted to expand into western Europe, using the expertise it has built in Asia. Australia's top car and home insurer ...

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