Company news Shares in Insurance Australia Group Ltd (ASX:IAG) lost 0.59 per cent on Wednesday to close at $3.38. Australia's largest insurer, IAG and the New South Wales motoring body, NRMA, have denied their relationship is on the rocks. Yesterday news broke NRMA had dumped almost half of its stake in IAG, worth around $445 million. The parties responded by issuing a joint statement affirming their positive relationship and denying that any crisis talks have been held. IAG posted an interim net profit of $205 million in the last half of 2010. Yesterday shares in Centro Properties Group (ASX:CNP) added 2.63 per cent to close at $0.039, that was after the embattled property group announced it has sold its US assets to Blackstone Real Estate Partners. The shopping centre owner will net $US650 million from the sale which will mainly be put to reducing debt.