IAG sheds $300m assets ahead of potential UK business sale
Insurance Australia Group has written off AUD$297m (£196.6m) remaining goodwill and intangible assets associated with the UK business just months before it decides whether to sell its loss-making divisions.
The decision was taken due to “continuing challenging economic and industry conditions in the local market”, and has resulted in a reported net profit after tax of $207m for the year ending June 2012
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