IAG subsidiary CGU Insurance inks partnership with ANZ

CGU will offer general insurance products to ANZ's retail banking customers.

CGU Insurance has partnered with ANZ to offer general insurance products to ANZ's retail banking customers.

This collaboration involves CGU underwriting home, landlord, and motor insurance products.

Starting 3 July, ANZ customers can purchase new policies, and from August, they will be encouraged to renew their existing ANZ policies with CGU.

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CGU is a subsidiary of IAG's Intermediated Insurance Australia (IIA) business, known for successfully distributing personal insurance products through financial institutions.

CGU's partnership with ANZ is expected to boost Intermediated Insurance Australia's (IIA) goal of reaching $250m in profits for 2024.

The agreement with ANZ is expected to boost IIA’s goal of achieving a minimum insurance profit of $250m in the fiscal year 2024.