Insurance Acquisitions and Takeovers Act 1991

NOTICE OF UNCONDITIONAL GO‑AHEAD DECISION

SINCE:

A Insurance Australia Limited ABN 11 000 016 722 (IAL) is an Australian‑registered insurance company under the Insurance Acquisitions and Takeovers Act 1991 (the Act), because it is a company authorised under the Insurance Act 1973 to carry on insurance business; and

B IAL has given notice pursuant to paragraph 38(b) of the Act that it proposes to carry out trigger proposals under section 36 of the Act to accept and assume all of the insurance contracts and insurance liabilities (and business assets and liabilities) of the following entities by way of schemes to be confirmed by the Federal Court of Australia under Division 3A of Part III of the Insurance Act 1973:

B.1 CGU Insurance Limited ABN 27 004 478 371;

B.2 CGU-VACC Insurance Limited ABN 73 004 167 953;

B.3 HBF Insurance Pty Ltd ABN 11 009 268 277;

B.4 IAG Re Australia Limited ABN 96 001 948 278;

B.5 Mutual Community General Insurance Proprietary Limited

ABN 59 007 895 543;

B.6 Swann Insurance (Aust) Pty Ltd ABN 80 000 886 680;

B.7 WFI Insurance Limited ABN 24 000 036 279; and

C I have complied with the relevant decision-making principles formulated under section 65 of the Act.

I, KELLY O’DWYER, Minister for Revenue and Financial Services, the responsible Minister of the Commonwealth by the operation of subsection 19A(1) of the Acts Interpretation Act 1901, under subsection 41(1) of the Act, MAKE a decision that the Commonwealth Government has no objection to IAL carrying out the trigger proposals.

Dated: 27 September 2016

KELLY O’DWYER

Minister for Revenue and Financial Services