In October UK-based global insurer Aviva announced plans to sell its Australian and NZ general insurance businesses to IAG. The ACCC gave its nod of approval. CGU gives IAG a huge insurance empire that controls more than a quarter of the national general insurance market. Both CGU and IAG deal in personal lines insurance, and the acquisition means the joint group will hold the highest levels of market concentration in the NSW (58%) and Victoria (51%) domestic motor insurance markets. Best of all for IAG is the fact that the purchase gives it real presence in the crucial intermediated commercial market.