Insurance Australia Group (IAG) is selling off its direct marketing unit Hastings Direct as part of a management buyout, in a deal worth 23.5 million pounds ($34.9 million).
The deal includes the Internet-based operations that trade under the Insure brands, according to IAG.
The management buyout will be led by Hastings chief executive Edward Fitzmaurice and Keith Charlton, chief executive of Advantage, IAG
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