In 2014, IAG signed a ten-year agreement to distribute home and car policies for Coles Insurance.

The acquisition comprised companies trading under the WFI and Lumley brands, as well as a ten-year distribution agreement with Coles.

The insurer's net profit for the six months to December fell 10% to $579m due to intensifying competition and a jump in natural disaster claims.

IAG's New Zealand business delivered a 26% rise in gross written premiums, though entirely on account of adding Wesfarmers' NZ-based operations.

The underlying profit margin increased from 14.2% to 15.9% due to a period of few natural disasters but the company is still feeling pain from the massive 2011 Canterbury earthquakes.

[11] In June 2015, Berkshire Hathaway acquired a 3.7 percent stake in the group for a fee of around $388 million in a partnership aimed at reducing IAG's capital requirements.