Harmer halts Asia expansion at IAG
Peter Harmer, CEO of Australian insurer IAG, has said the firm's plans to grow in Asia are on hold and that it will focus on Australia and New Zealand.
Only 4% of IAG’s revenue came from Asia last year and a week after Harmer, pictured, became CEO the firm reduced its stake in Chinese firm Bohai from 20% to 14% taking a A$60m (£36m) writedown on its
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