RACQ Insurance Archives - InsuranceAsia News https://insuranceasianews.com/companies_category/racq-insurance/ Tue, 09 Dec 2025 08:12:48 +0000 en-US hourly 1 https://wordpress.org/?v=6.8.2 IAG receives over 10,000 claims from significant weather events across Queensland, NSW, Victoria https://insuranceasianews.com/iag-receives-over-10000-claims-from-significant-weather-events-across-queensland-nsw-victoria/ Mon, 10 Nov 2025 05:17:49 +0000 https://insuranceasianews.com/?p=204200 Majority relate to motor and property hail damage, with over half from customers of RACQ Insurance, which IAG acquired in September.

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IAG has received over 10,000 claims across its brands, including approximately 5,800 from RACQ Insurance (RACQI) customers, due to several significant weather events in Queensland, New South Wales, an...

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]]> IAG upgrades FY26 guidance following RACQ’s acquisition https://insuranceasianews.com/iag-upgrades-fy26-guidance-following-racqs-acquisition/ Thu, 23 Oct 2025 05:13:53 +0000 https://insuranceasianews.com/?p=202642 The Australian insurer now expects GWP growth of approximately 10% in FY26, up from the original 'low-to-mid single digit' range.

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IAG, the Australian insurer, has lifted its FY26 financial guidance following the successful integration of the Royal Automobile Club of Queensland's (RACQ) underwriting business, according to a state...

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]]> Australian regulator sues RACQ over misleading renewal comparison pricing https://insuranceasianews.com/australian-regulator-sues-racq-over-misleading-renewal-comparison-pricing/ Tue, 23 Sep 2025 02:41:17 +0000 https://insuranceasianews.com/?p=200477 Australian Securities and Investments Commission has alleged that the IAG-owned carrier inflated 'last period premium' in more than 570,000 renewal documents sent to customers between September 2019 and December 2024.

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RACQ Insurance, a unit of Insurance Australia Group, has been accused by the Australian Securities and Investments Commission (ASIC) of misleading thousands of customers with false premium comparison ...

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]]> ACCC launches public review of IAG-RACQ deal, focuses on personal lines https://insuranceasianews.com/accc-launches-public-review-of-iag-racq-deal-focuses-on-personal-lines/ Wed, 18 Jun 2025 09:50:32 +0000 https://insuranceasianews.com/?p=193210 The competition watchdog is conducting market inquiries as part of its standard merger assessment process.

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The Australian Competition and Consumer Commission (ACCC) has launched a public review of IAG’s proposed acquisition of a 90% stake in RACQ Insurance, focusing on potential impacts on competition in t...

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]]> Australian competition watchdog clears IAG’s RACQ acquisition https://insuranceasianews.com/australian-competition-watchdog-clears-iags-racq-acquisition/ Thu, 22 May 2025 02:41:59 +0000 https://insuranceasianews.com/?p=191070 ACCC said Suncorp, Allianz and QBE, and newer entrants such as Youi, Auto & General, and Hollard will continue to compete in Queensland.

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The Australian Competition and Consumer Commission (ACCC)  has cleared IAG’s proposed acquisition of RACQ Insurance (RACQI).
The decision follows the regulator’s assessment of whether the deal will li...

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]]> Cyclone Alfred becomes RACQ’s largest claim event, expects to cost US$120-133m https://insuranceasianews.com/cyclone-alfred-becomes-racqs-largest-claim-event-expects-to-cost-us120-133m/ Tue, 08 Apr 2025 09:55:25 +0000 https://insuranceasianews.com/?p=180679 RACQ has received close to 18,000 claims following the event last month and has paid out US$7.5m.

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Ex-Tropical Cyclone Alfred has become the largest property claims event in the 50-year history of RACQ Insurance, the insurer said in a press release.
As at 9am on Monday, RACQ had received 17,843 cla...

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]]> Australian antitrust regulator to probe IAG-RACQ and Allianz-RAAI deals https://insuranceasianews.com/iags-racq-insurance-acquisition-runs-into-antitrust-concerns/ Tue, 04 Feb 2025 05:07:47 +0000 https://insuranceasianews.com/?p=175022 ACCC, the competition watchdog, will assess whether the acquisitions will substantially lessen competition in the market.

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The Australian Competition and Consumer Commission (ACCC) has initiated an investigation into the proposed acquisition of RACQ Insurance (RACQI) by Insurance Australia Group (IAG), as well as Allianz ...

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]]> IAG to acquire RACQ insurance business for US$555m https://insuranceasianews.com/iag-to-acquire-racq-for-us555m/ Thu, 28 Nov 2024 00:30:07 +0000 https://insuranceasianews.com/?p=170773 The Australian insurer will enter a 25-year exclusive strategic alliance to provide the mutual's general insurance products and services for the members and Queenslanders.

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Australian insurer IAG will acquire 90% of Queensland-based Royal Automobile Club of Queensland (RACQ’s) existing insurance underwriting business for a consideration of AU$855 million (US$555m), with ...

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]]> Allianz among bidders for RACQ insurance unit: report https://insuranceasianews.com/allianz-among-bidders-for-racq-insurance-unit-report/ Mon, 29 Jul 2024 22:10:21 +0000 https://insuranceasianews.com/?p=159249 The Australian business is looking to exit the motor insurance business in a sale process run by Bank of America.

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Allianz is among the bidders for the insurance business of Royal Automobile Club of Queensland (RACQ), a sale process being run by Bank of America, according to a report by The Australian.
The interes...

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]]> Aldi partners with RACQ and Honey Insurance to launch insurance offering in Australia https://insuranceasianews.com/aldi-partners-with-racq-and-honey-insurance-to-launch-insurance-offering-in-australia/ Wed, 05 Jun 2024 01:45:53 +0000 https://insuranceasianews.com/?p=155187 The supermarket chain's insurance arm will offer car, homeowners and renters, including free smart home sensors, and landlord policies across the country.

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German supermarket chain Aldi has launched Aldi Insurance in Australia, which will be underwritten by Queensland-based insurer RACQ  and backed by specialist home insurtech Honey Insurance.
The compan...

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