IAG UK on lookout for SME brokers at the right price
Neil Utley on the look out for suitable acquisitions
Insurance Australia Group (IAG) UK has spoken of its intention to buy a 'hub' of small to medium-sized enterprise (SME) brokers.
Neil Utley, chief executive of IAG, said the insurer was actively looking for "sensibly priced" acquisitions.
However, he remained tight-lipped about reports it was on the verge of snapping up HSBC Insurance (UK) before the bank put its motor insurance business into run-off.
Referring to IAG UK's acquisition of broker Barnett & Barnett in early 2008, Mr Utley said: "I
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