IAG finds buyer Thai, Indonesia units

Insurance Australia Group has announced that it would sell its Thai and Indonesian operations to Japanese insurer Tokio Marine Holdings for AUD525 million (USD389.71 million), according to a Reuters report.

The Japanese company’s unit, Tokio Marine & Nichido Fire Insurance, will buy IAG’s 98.6 percent stake in Thailand’s Safety Insurance and 80 percent of PT Asuransi Parolamas in Indonesia.