CGU Insurance Limited is an Australian
intermediary
An intermediary, also known as a middleman or go-between, is defined differently by context. In law or diplomacy, an intermediary is a third-party beneficiary, third party who offers intermediation services between two parties. In trade or barte ...
-based
insurance
Insurance is a means of protection from financial loss in which, in exchange for a fee, a party agrees to compensate another party in the event of a certain loss, damage, or injury. It is a form of risk management, primarily used to protect ...
company and forms part of
Insurance Australia Group
Insurance Australia Group Limited (IAG) is a multinational insurance company. It is the largest general insurance company in Australia, and also the largest in New Zealand through its subsidiary IAG New Zealand. IAG had its origins in the Na ...
(IAG).
CGU Insurance was formed through the global merger of
Commercial Union
Commercial Union plc was a large insurance business based in London. It merged with General Accident in 1998 to form CGU plc.
History
Commercial Union was established following a conflagration near London Bridge in 1861, known as the Great T ...
plc and
NZI's parent company, General Accident plc.
The global merger brought together two highly regarded insurers with almost 160 years of experience in Australia and New Zealand. The acronyms of those two insurers were melded together to form CGU which is subsequently no longer an acronym.
CGU Insurance sells its insurance products through a network of over 1,000 intermediaries, and more than 100 business partners. As of November 2024, CGU Insurance employs approximately 1,442 individuals across Australia and New Zealand.
References
External links
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Financial services companies established in 1998
Insurance companies of Australia
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