Sat, 16th May 2026

In today's Daily Financial Services News Wrap, we discuss key financial updates from Australia. The Australian Competition and Consumer Commission progresses with its second phase investigation into Insurance Australia Group's acquisition of RAC Insurance over potential competition concerns. The Motor Trades Association of Australia urges consumers and tradespeople to review their policies to ensure competitive rates. In court news, Allianz Australia's attempt to cap sexual misconduct coverage under the Uniting Churchs policy was denied by the Federal Court, stressing the need for meticulous policy review. On a global front, QBE Insurance Group plans to divest its trade credit and surety business to Swiss Re Corporate Solutions aiming to streamline operations and boost revenues. Lastly, marine maintenance facility The Boat Works announces its ambitious Pier 25 project as part of its growth and innovation strategy in the marine services industry.n