IAG

IAG is the parent company of a general insurance group with controlled operations in Australia, New Zealand, Thailand, Vietnam and Indonesia. Its businesses underwrite over $11.4 billion of premium per annum, selling insurance under many leading brands, including: NRMA Insurance, CGU, SGIO, SGIC, Swann Insurance and WFI (Australia); NZI, State, AMI and Lumley Insurance(New Zealand); Safety and NZI (Thailand);  AAA Assurance (Vietnam); and Asuransi Parolamas(Indonesia).

Australian operations

In July 2017, IAG announced the creation of a single Australian division, which simplifies IAG’s operating model by bringing together the Australian Consumer, Australian Business, Operations and Satellite Divisions. It centralises accountability for the customer, product, distribution and operations functions for IAG’s Australian brands, which include NRMA Insurance, CGU, WFI, SGIO and SGIC.

Before this development, we operated two Australian divisions, and our most recent financial results (for the half year ended 31 December 2016) were in these divisions:

• Australian Consumer Division distributes general insurance products directly to customers throughout Australia under the NRMA Insurance, SGIO, SGIC, and RACV (in Victoria, via a distribution and underwriting relationship with RACV) brands and indirectly through intermediaries including financial institutions and affinity groups. Consumer Division generated GWP of approximately $3 billion for the half year to 31 December 2016 and accounted for 53% of IAG's gross written premium for the half year.
• Australian Business Division provides insurance to business customers, predominantly under the CGU, Swann Insurance and WFI brands. Business Division generated GWP of approximately $1.4 billion for the half year to 31 December 2016 and accounted for 25% of gross written premium.