Staying true

to our purpose

Significant achievements in 2005/06

Paying Claims

  • We paid out over $4 billion in claims over the past 12 months, which equates to $12 million a day in Australia and New Zealand.
  • We were the first insurance company on the ground in North Queensland after Cyclone Larry, and we are still there. We paid out millions of dollars to the worst affected customers within the first week.
  • Customer satisfaction in our direct personal insurance businesses remains strong: 80% in Australia and 88% New Zealand.
  • CGU Workers' Compensation Victoria achieved a strong rating for injured worker satisfaction in Victoria, with over 71% of injured workers satisfied with the service received.

Understanding and Pricing Risk

  • Our commercial business in New Zealand, NZI, was awarded 'Underwriter of the Year', judged against criteria such as claims efficiency, range, and quality of service and client relationships.
  • The average car comprehensive premium in NSW equated to 50% of one week’s earnings (based on published NSW average weekly earnings) at February 2006 compared with an average of 60% over the past seven years.
  • We were a founding member of the Business Roundtable on Climate Change, highlighting the scientific and economic issues of climate change for businesses.

Managing Costs

  • We provided quality and cost effective goods and services through our preferred supplier networks with builders, motor repairers, jewellers, carpet suppliers and electricians.
  • We reduced our CO2 emissions by 6% in Australia and New Zealand in 2005/06.
  • In New Zealand we reduced our office paper consumption by 14% and by 16% in Australia in 2005/06.

Reducing Risk

  • We introduced the Climate Help product, which allows our customers to offset their annual car emissions.
  • Three thousand of our customers have registered for the Risk Radar for farms, which helps farmers make their properties safer and more environmentally sound.
  • We have reduced our lost time injury frequency rate by 27% in Australia since 2004.
  • We released reports that help our customers understand and reduce their own risk in the home and on the road.