Proposal to transfer CGU insurance licence
October 28, 2016
Insurance Australia Group Limited (IAG) on 30 June 2014 completed its acquisition of Wesfarmers Insurance Underwriting businesses in Australia and New Zealand. IAG’s acquisition includes the businesses that operate under the Lumley and WFI brands, as well as a 10-year distribution partnership with Coles Insurance.
For CGU, it is very much business as usual. We continue to offer the same products and services, and we remain committed to providing you with the best possible service.
You will continue to be covered by insurance policies you have purchased from us, and claims will be managed under the terms of the policy as normal.
As a part of IAG, CGU has the backing and support of Australia’s largest insurance company and is part of the same group as trusted brands such as NRMA, RACV*, Swann Insurance, SGIC and SGIO.
As a result of the acquisition, there are changes to legal entity names to be aware of. Wesfarmers Insurance Pty Ltd will become WFI Insurance Holdings Pty Ltd, Wesfarmers General Insurance Limited will become WFI Insurance Limited, and Wesfarmers Federation Insurance Pty Ltd will become WFI Dormant Pty Ltd. There is no change to ABN/ACN or Australian Financial Service Licence of the authorised insurer. Over the coming months these changes will be reflected in documents including product disclosure statements. These changes do not affect the terms and conditions of policies in any way.