Asia/Australasia – news in brief

INSURANCE AUSTRALIA GROUP (IAG) has confirmed it is beginning a redundancy programme that will lead to the loss of several middle-management jobs in the primary insurance sector, reports the Herald Sun. IAG (pictured) said the latest corporate realignment would see positions being lost in the NRMA subsidiaries in New South Wales, Queensland and Tasmania, plus other posts in south Australia and western Australia. Staff in the joint venture with Victoria-based RACV are said to be safe. IAG’s Emma Forster told the Herald Sun the group could not rule out further job cuts but these would not be announced to the market, with no new announcements of cost-reduction targets being planned.