The new NRMA Insurance Group Limited was listed on the ASX.The Group acquired New Zealand’s largest general insurance company, State Insurance, and the policies and renewal rights to HIH's Australian workers' compensation business.NRMA Insurance Group Limited became Insurance Australia Group Limited (IAG).IAG acquired CGU in Australia (including Swann Insurance), NZI in New Zealand, and Zurich Insurance's NSW workers' compensation business.IAG expanded its presence in Asia, increasing its business in Thailand and moving into Malaysia.IAG established a joint venture with the State Bank of India to offer general insurance products.In March 2012, IAG completed the purchase of AMI insurance, the second largest direct personal lines insurer in New Zealand.In April, IAG completed the sale of the Equity Red Star business to Aquiline Capital Partners, a private equity investment firm specialising in financial services, for £87 million (approximately $130 million).On 30 June 2014, IAG completed the acquisition of Wesfarmers’ insurance underwriting businesses in Australia and New Zealand.On 16 June 2015, IAG announced a strategic relationship agreement to establish a long-term partnership with Berkshire Hathaway Inc, one of the world’s largest and most successful companies. These are external links and will open in a new window The loss for the second quarter of the year was £711m, compared with £187m in 2001 and £309m after the financial crisis. "This will represent a structurally changed industry and that's why we've taken the action that we've taken and that's why we believe now the the right time to raise additional capital. IAG, which also owns Iberia and Aer Lingus, said it planned to raise €2.75bn and had support for this from its main shareholder, Qatar Airways. In March 2012, IAG completed the purchase of AMI insurance, the second largest direct personal lines insurer in New Zealand. At IAG, we have been providing high quality cooking appliances to the Australian market for over 15 years.

NRMA Insurance had grown to be the largest non-government home and contents insurer in NSW and the ACT.NRMA expanded interstate, with eight offices in Victoria, and a move into Queensland.NRMA acquired the SGIO Group, including SGIO Insurance, the largest fire and general insurer in Western Australia, and SGIC, the largest general insurer in South Australia. Our businesses underwrite over $12 billion of premium per annum, selling insurance under many leading brands, including: NRMA Insurance, CGU, SGIO, SGIC, Swann Insurance, WFI and Poncho Insurance (Australia); and NZI, State, AMI and Lumley (New Zealand). "That figure of 12,000 is the maximum that would be required, I would hope that it will be significantly lower than that." BA employs about 45,000 staff and has more than half of these on furlough. British Airways faces strike threat over job cut plan Coronavirus: Airlines call for joint US-European testing scheme British Airways to cut up to 12,000 jobs as air travel collapses Mr Walsh said: "The industry will recover from this crisis, though we do not expect this to be before 2023, and there will be opportunities for IAG to capitalise on its strength and leadership positions." He said the company had paid out £1.1bn in refunds and that it aimed to speed up the repayments process so people would receive refunds within seven days of applying. IAG, which also owns Iberia and Aer Lingus, said it planned to raise €2.75bn and had support for this from its main shareholder, Qatar Airways.However, shares in IAG were down 7% in morning trading at 167p. IAG said that the multi-year renewal agreement with American Express would extend the commercial partnership with the payments company, and that American Express was paying IAG to pre-purchase Avios points, which members of rewards programmes can use to buy flights. It also entered the Asian market, acquiring an interest in Thailand's Safety Insurance.A joint venture was formed between the insurance businesses of NRMA and Royal Automobile Club of Victoria (RACV).NRMA demutualised in 2000, separating its road services and insurance operations. "IAG reported a loss of €4.2bn (£3.8bn) for the first half of the year, and Mr Walsh said it would take until at least 2023 for passenger levels to recover.Passenger numbers fell 98% in the April-to-June period, and the airline group is planning to cut jobs.Losses for BA outstrip those made in both the credit crisis of 2008 and following the 9/11 attacks in 2001. He added that business had begun to pick up as guidance on travel abroad was loosened: "We have seen evidence that demand recovers when government restrictions are lifted.

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