Insurance Australia Group (IAG) has progressed its Asia regional operations with the recent purchase of a new Lloyd's MGA. The newly acquired managing agency will operate under the name "Alba Group." The focus of Alba will be to promote & develop IAG's presence in Asia and provide reinsurance support to its business partners and subsidiary companies in the Asia Pacific region.

The acquisition of Alba is one of several secured by IAG, including RSA's Thailand Subsidiary & AmAssuarance. "The acquisition of Alba puts IAG in a strong position to take advantage of reinsurance opportunities and continue building a portfolio of Asian assets," said CEO of IAG Michael Hawker.