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9. Contact - got a question about Insurance Australia Group, or want to leave a comment then check out the sites contact page. Reputable companies have them and respond.
10. Payment - ready to pay for your Insurance Australia Group, then use your credit card or PayPal! Be aware of companies that don't accept them, there may be genuine reasons but given the huge amount of choice you have when buying online there is no reason at all not to buy via credit card or PayPal.
{{Infobox Company|name = Insurance Australia Group Limited|logo = |type = Public (ASX: IAG)|foundation =
2000 (renamed from NRMA Insurance Group in 2002)], Australia AO, [Chairman
Michael Hawker, CEO
[New Zealand
United Kingdom Thailand
Malaysia China
]|products = General insurance,
Business insurance,
Vehicle insurance, Home insurance and Contents Insurance insurance, Breakdown cover|revenue = Australian dollar7,381 million (2007)]963 million (
2007)]552 million (
2007)] Insurance, CGU Insurance, SGIO, SGIC, Swann Insurance, NZI, State Insurance, China Automobile Association,
NZI Thailand, Safety Insurance,
AmAssurance,
Hastings Insurance, Equity Insurance Group as .
The company was formed by the demutualisation of the [NRMA Insurance business in July 2000 and a return of shares to the members of NRMA. According to its website, NRMA Insurance Group Limited changed its name to Insurance Australia Group Limited on
15 January 2002. IAG is the name of the listed entity; it is not a customer-facing retail name, however it represents the holding company that holds the many retail brands together.
Insurance business
Insurance Australia Group operates a number of different insurance brands in Australia, Asia and the UK including:
Australia
- NRMA Insurance
- SGIO, acquired in 1998
- SGIC, acquired in 1998
- CGU Insurance, acquired in 2003
- Swann Insurance, acquired in 2003
IAG has a 70% shareholding in Insurance Manufacturers of Australia Limited (the other 30% being held by
Royal Automobile Club of Victoria), which issues insurance under the RACV Insurance name that is sold by RACV.
IAG's biggest competitor in Australia is
Suncorp-Metway, who operates the Suncorp, GIO, AAMI, Vero, Just Car and other insurance brands.
New Zealand
- State Insurance, acquired in 2001
- NZI, acquired in 2003
United Kingdom
Asia
- Safety Insurance, Thailand, held a stake in 1998, now holds 96% voting rights
- NZI Thailand, acquired in 2003
- AmAssurance, Malaysia, acquired in 2006
Other business
In China, Insurance Australia Group owns CAA, the
China Automobile Association, the largest
breakdown cover provider in the country. IAG held a stake in CAA since 1999, increasing to full ownership in 2003.
Executive structure
Board of Directors
- James Strong AO, Chairman. Also chairman of Woolworths Limited, Rip Curl and Australian Council for the Arts. Also on the board of QANTAS.
- Michael Hawker, CEO
- Hugh Fletcher, Non-executive director
- Anna Hynes, Non-executive director
- Phillip Colebatch, Non-executive director
- Geoffrey Cousins, Non-executive director
- Neil Hamilton, Non-executive director
- Rowan Ross, Non-executive director
- Brian Schwartz, Non-executive director
Executive team
- Michael Hawker, CEO Insurance Australia Group
- Justin Breheny, CEO Asia
- Tony Coleman, Chief Risk Officer and Group Actuary
- Nicholas Hawkins, CEO IAG New Zealand
- David Issa, CEO Personal Insurance
- Jacki Johnson, CEO Business Partnerships
- Christine McLoughlin, Group Executive - Strategy
- Sam Mostyn, Group Executive - Culture and Reputation IAG (portfolio moving to Christine McLoughlin, division to be renamed)
- Mario Pirone, CEO CGU Insurance
- Neil Utley, CEO UK Operations
- Jan Van Der Schalk, CEO Asset Management and Reinsurance
- George Venardos, Chief Financial Officer
Peter Connell served on the executive team until mid 2007, however a restructure of the executive team saw Mr. Connell now reporting to Neil Utley. Neil Utley's position now stands as CEO IAG UK Operations with Peter Connell as Deputy CEO UK. Peter Connell continues to run the Hastings Insurance business in the UK.
From mid October, 2007 Sam Mostyn will leave the IAG executive team. Christine McLoughlin will take responsibility of the Culture and Reputation portfolio along with Group Strategy. The combined divisions will be named Coporate Development, People and Performance.
Sustainability
On
31 August 2006, IAG was placed on the Dow Jones Sustainability IndexDow Jones Sustainability Index 2006 . IAG is the first Australian insurance company to achieve this recognition.
On
15 November 2006, IAG announced it intended to become
carbon neutral within five years across all of its operations.
References
See also
External links
- Insurance Australia Group
{{Infobox Company|name = Insurance Australia Group Limited|logo = |type = Public (ASX: IAG)|foundation =
2000 (renamed from NRMA Insurance Group in
2002)],
Australia AO, [ChairmanMichael Hawker,
CEO
[New Zealand United Kingdom Thailand
Malaysia
China
]|products =
General insurance,
Business insurance, Vehicle insurance, Home insurance and
Contents Insurance insurance, Breakdown cover|revenue = Australian dollar7,381 million (2007)]963 million (
2007)]552 million (
2007)] Insurance,
CGU Insurance,
SGIO,
SGIC, Swann Insurance,
NZI,
State Insurance,
China Automobile Association, NZI Thailand, Safety Insurance, AmAssurance, Hastings Insurance,
Equity Insurance Group as .
The company was formed by the demutualisation of the [NRMA Insurance business in July 2000 and a return of shares to the members of NRMA. According to its website, NRMA Insurance Group Limited changed its name to Insurance Australia Group Limited on 15 January 2002. IAG is the name of the listed entity; it is not a customer-facing retail name, however it represents the holding company that holds the many retail brands together.
Insurance business
Insurance Australia Group operates a number of different insurance brands in Australia, Asia and the UK including:
Australia
- NRMA Insurance
- SGIO, acquired in 1998
- SGIC, acquired in 1998
- CGU Insurance, acquired in 2003
- Swann Insurance, acquired in 2003
IAG has a 70% shareholding in Insurance Manufacturers of Australia Limited (the other 30% being held by
Royal Automobile Club of Victoria), which issues insurance under the RACV Insurance name that is sold by RACV.
IAG's biggest competitor in Australia is
Suncorp-Metway, who operates the Suncorp, GIO, AAMI, Vero, Just Car and other insurance brands.
New Zealand
- State Insurance, acquired in 2001
- NZI, acquired in 2003
United Kingdom
- Hastings, acquired in 2006
- Equity Insurance Group, acquired in 2006
Asia
- Safety Insurance, Thailand, held a stake in 1998, now holds 96% voting rights
- NZI Thailand, acquired in 2003
- AmAssurance, Malaysia, acquired in 2006
Other business
In China, Insurance Australia Group owns CAA, the
China Automobile Association, the largest breakdown cover provider in the country. IAG held a stake in CAA since 1999, increasing to full ownership in 2003.
Executive structure
Board of Directors
- James Strong AO, Chairman. Also chairman of Woolworths Limited, Rip Curl and Australian Council for the Arts. Also on the board of QANTAS.
- Michael Hawker, CEO
- Hugh Fletcher, Non-executive director
- Anna Hynes, Non-executive director
- Phillip Colebatch, Non-executive director
- Geoffrey Cousins, Non-executive director
- Neil Hamilton, Non-executive director
- Rowan Ross, Non-executive director
- Brian Schwartz, Non-executive director
Executive team
- Michael Hawker, CEO Insurance Australia Group
- Justin Breheny, CEO Asia
- Tony Coleman, Chief Risk Officer and Group Actuary
- Nicholas Hawkins, CEO IAG New Zealand
- David Issa, CEO Personal Insurance
- Jacki Johnson, CEO Business Partnerships
- Christine McLoughlin, Group Executive - Strategy
- Sam Mostyn, Group Executive - Culture and Reputation IAG (portfolio moving to Christine McLoughlin, division to be renamed)
- Mario Pirone, CEO CGU Insurance
- Neil Utley, CEO UK Operations
- Jan Van Der Schalk, CEO Asset Management and Reinsurance
- George Venardos, Chief Financial Officer
Peter Connell served on the executive team until mid 2007, however a restructure of the executive team saw Mr. Connell now reporting to Neil Utley. Neil Utley's position now stands as CEO IAG UK Operations with Peter Connell as Deputy CEO UK. Peter Connell continues to run the Hastings Insurance business in the UK.
From mid October, 2007 Sam Mostyn will leave the IAG executive team. Christine McLoughlin will take responsibility of the Culture and Reputation portfolio along with Group Strategy. The combined divisions will be named Coporate Development, People and Performance.
Sustainability
On
31 August 2006, IAG was placed on the Dow Jones Sustainability IndexDow Jones Sustainability Index 2006 . IAG is the first Australian insurance company to achieve this recognition.
On 15 November
2006, IAG announced it intended to become carbon neutral within five years across all of its operations.
References
See also
External links
- Insurance Australia Group
Insurance Australia Group Limited (IAG)
General insurance group. Brands include NRMA, SGIC, SGIO, State Insurance, and others.
Insurance Australia Group Ltd IAG:ASX - Performance - FT.com
As of last close on Aug 18 2008, Insurance Australia Group Ltd (IAG:ASX) closed at 3.82, 19.00% above the 52 week low of 3.21 set on March 06, 2008.
Insurance Australia Group acquires Hastings Insurance Services Limited
Insurance Australia Group Ltd announced its acquisition of UK-based Hastings Insurance Services Limited and Gibraltar based direct personal insurer, Advantage Insurance, subject to ...
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Insurance Australia Group (IAG) is an Australia-based general insurance group. It provides personal and commercial insurance products under several brands including NRMA Insurance ...
Datamonitor - Insurance Australia Group Limited - Company Research ...
Insurance Australia Group (IAG) is an Australia-based general insurance group. It provides personal and commercial insurance products under several brands including NRMA Insurance ...
Insurance Australia Group - Wikipedia, the free encyclopedia
Insurance Australia Group Limited (IAG) is an Australian publicly-listed company with its shares traded on the Australian Stock Exchange as ASX: IAG.
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Get the latest on Insurance Australia Group Limited (IAG) including up to date news, high quality discussion groups and more on Google Finance.
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Acronym Definition; IAG: I Am Gay: IAG: Illinois Art Gallery: IAG: Imagery Analysis Group: IAG: Incident Analysis Group: IAG: Independent Assessment Group: IAG: Industry Action ...
Overview | Equity Insurance Group
In January 2007, the acquisition of Equity Insurance Group by Insurance Australia Group (IAG), Australia's leading general insurance group was completed.
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