Australia : TERRITORY INSURANCE OFFICE chooses ALLIANZ AUSTRALIA

To acquire the general insurance business of the Territory Insurance Office (TIO), Allianz Australia signs deal with the Government of the Northern Territory and to administer the Government Motor Accidents Compensation scheme signs a 10 year deal.

TIO s general insurance business will move to Allianz s ownership and Allianz will begin servicing the Government Motor Accidents Compensation scheme on 2 January 2015, subject to the passage of the relevant legislation through the Parliament of the Northern Territory and Australian Competition and Consumer Commission sanction.

Niran Peiris, Managing Director of Allianz Australia, said, Allianz is...