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Insurance Australia Group Ltd. (IAG.AU) remains well-capitalized after a spate of acquisitions in Asia and is taking a “disciplined” approach to expansion, the head of the company’s Asian division said on Monday.

In a matter of weeks, the insurance giant has announced the 235 million Australian dollar (US$ 245.6 million) buy of Malaysia’s Kurnia, a A$ 288 million acquisition of New Zealand insurer AMI, finalized a A$ 100 million deal for a 20% stake in Chinese insurer Bohai and taken a 30% slice of Vietnam’s AAA Assurance Corp.

Analysts have questioned whether the strategy will overstretch the company’s capital base after insurers worldwide suffered their worst year on record in 2011. Last week, Moody’s Investors Service changed its outlook for fellow insurer QBE Insurance Group Ltd. (QBE.AU) to negative, citing its “increasingly aggressive leverage profile” and acquisition-based strategy.

But Justin Breheny, IAG’s Asia chief, said the buying spree is the culmination of years of research and denied that the group’s ba……….. continues on Fox Business.

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