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RAA’s 20-year insurance partnership with Allianz Australia has today come into effect – set to bring greater benefits and value to RAA members.
Under the partnership, announced in December 2024, Allianz South Australia Insurance Limited now underwrites all RAA’s home and motor insurance policies.
RAA remains responsible for the marketing and distribution of insurance products, which will stay local and continue to be offered under the trusted RAA brand.
RAA Chief Executive Officer Nick Reade said RAA was pleased to officially begin its insurance partnership with Allianz Australia.
“This partnership is set to deliver a range of benefits and greater value for our 830,000 members,” Mr Reade said.
“It enables RAA to reduce our exposure to risk, rebuild our balance sheet and deliver more value for members.
“As a local, state-based insurer it was becoming increasingly difficult to shield our members from the challenges being faced by insurers across the globe.
“By leveraging Allianz’s size and scale, we can reduce our exposure to risk and provide greater value for our members.
“This isn’t a new concept for RAA – throughout the majority of our 100-year history in insurance, we’ve partnered with a number of providers to deliver quality and trusted insurance products for our members.”
Mr Reade said RAA members would still have access to award-winning insurance products and benefit from Allianz’s size, scale and expertise as a leading global insurer.
“RAA will remain local, and members will continue to have access to our award-winning insurance products,” Mr Reade said.
“Of course, members will still be able to talk to a South Australian when they pick up the phone or visit us in one of our shops.
“One of the exciting things about this partnership is the ability to develop new insurance products and services in the future to meet the needs of our members.
“We’ll also receive a significant injection of capital and we’re already consulting our members about how we can give more back to them, and the broader community.”