Allianz Australia to acquire RAA’s general insurance business

The transaction is expected to be completed by mid-2025.

Allianz Australia partnered with the Royal Automobile Association of South Australia (RAA) in a deal worth A$642m. 

The agreement includes Allianz's acquisition of RAA's general insurance business and a 20-year exclusive distribution agreement for RAA’s home and motor insurance products.

Under the partnership, Allianz will underwrite all general insurance products, excluding travel, and manage claims under the RAA brand. 

Approximately 270 RAA employees will transfer to Allianz’s Adelaide team as part of the acquisition. 
The transaction is subject to approvals and is expected to be completed by mid-2025.