Commonwealth Bank worked on a bid for Insurance Australia Group as recently as October 2010 and also considered a bid in 2009 and also on one other occasion, the Sydney Morning Herald reports.One source cited by the newspaper is Richard Talbot, a former director of NRMA Insurance, which demutualised and adopted the name IAG a decade ago.The SMH report says that according to Talbot, CBA chief executive Ralph Norris told him that he had a team of people working on IAG but at $3.40 a share, the numbers didn't stack up.QBE Insurance Group is another, and long rumoured, suitor for IAG.