RAC WA's Insurance Sale to IAG Sparks Member Concerns Amid Profit Jump

RAC WA is planning to sell its insurance arm to IAG in a $1.35 billion deal, despite concerns from customers who may leave if the acquisition goes ahead. RAC's insurance products and services generated a net income of $290 million last financial year, more than double the previous year's earnings. The Australian Competition and Consumer Commission is reviewing the deal, citing concerns about reduced competition in WA's insurance market. RAC CEO Rob Slocombe believes the deal is in the best interests of WA customers.