Insurance Australia Group's off-market share buy-back closes at 5pm on Friday. The group says it has received a steady response from shareholders since the buy-back opened on May 24. CFO George Venardos says it may provide some shareholders with tax advantages compared to an on-market sale of shares, depending on individual circumstances.

The outcome of the tender process, including the final buy-back price, will be announced on June 21, and proceeds from the sale of shares will be sent to shareholders on June 28.