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IAG completes redemption of subordinated notes

Insurance Australia Group Ltd. completed the redemption of all its outstanding fixed and floating rate subordinated notes due 2026.

The insurer previously said it was redeeming NZ$187 million of 7.5% notes Dec. 15 and £100 million of 5.625% notes Dec. 21.

As of Dec. 21, US$1 was equivalent to NZ$1.45.