Australia
Minter Ellison is advising Insurance Australia Group Ltd. on a proposed $1.7 billion acquisition of Perth-based conglomerate Wesfarmers Ltd.’s insurance underwriting businesses. IAG is buying both the Australian and New Zealand underwriting divisions of Wesfarmers, which also operates in the retail, energy and industrial sectors. According to an IAG statement, Wesfarmers’ insurance underwriting businesses reported gross written premiums of over $1.4 billion in the financial year ending June 30. Minter Ellison partner James Philips is leading a Sydney-based team that includes partners Mark Standen and Christopher Brown acting for IAG. Herbert Smith Freehills is representing Wesfarmers on Australian law matters, while Russell McVeagh is serving as New Zealand counsel. [Read full story]
