IAG's Equity disposal enters final stretch as MBO becomes unlikely

Insurance Australia Group (IAG) may finally be able to offload its British insurance arm, Equity Insurance Group, if a deal, set to be completed by February, goes through, Insurance Age has learnt.

Senior industry sources indicated QBE would buy the group's Lloyd's underwriting business Equity Redstar, and Swinton would snap up the group's high-street broking chain Equity Insurance Brokers.

The proposed management buyout of the whole Equity group by Neil Utley seems dead in the water and it appear