IAG licence consolidation completed

IAG has completed the consolidation of nine of its general insurance licences into two.

As of 1 August 2017, Insurance Australia Limited ABN 11 000 016 722 (IAL) is the insurer of all policies issued by the following seven companies:

(a) CGU Insurance Limited ABN 27 004 478 371
(b) Swann Insurance (Aust) Pty Ltd ABN 80 000 886 680
(c) WFI Insurance Limited ABN 24 000 036 279
(d) IAG Re Australia Limited ABN 96 001 948 278
(e) Mutual Community General Insurance Pty Ltd ABN 59 007 895 543
(f) CGU-VACC Insurance Limited ABN 73 004 167 953); and
(g) HBF Insurance Pty Ltd ABN 11 009 268 277

The licence consolidation was a key project in IAG’s work to become a simpler, more efficient and agile business. The reduction in insurance licences will free up resources to be used to further improve operations and customer service.

The Federal Court of Australia granted approval for the licence consolidation on 20 July 2017.

The transfer has no impact on people who hold policies issued by the seven insurance companies listed above. The terms of the policies are not changing, other than IAL is now the insurer under each transferred policy. There will be no impact on claims and policies will continue to operate and be renewed in the same way. More information is available on the Licences page of this website

 

Last updated
03/08/2017