RACQ Insurance Archives - InsuranceAsia News https://insuranceasianews.com/companies_category/racq-insurance/ Mon, 29 Jul 2024 23:55:52 +0000 en-US hourly 1 https://wordpress.org/?v=6.6.2 Allianz among bidders for RACQ insurance unit: report https://insuranceasianews.com/allianz-among-bidders-for-racq-insurance-unit-report/ Mon, 29 Jul 2024 22:10:21 +0000 https://insuranceasianews.com/?p=159249 The Australian business is looking to exit the motor insurance business in a sale process run by Bank of America.

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Allianz is among the bidders for the insurance business of Royal Automobile Club of Queensland (RACQ), a sale process being run by Bank of America, according to a report by The Australian.
The interes...

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]]> Aldi partners with RACQ and Honey Insurance to launch insurance offering in Australia https://insuranceasianews.com/aldi-partners-with-racq-and-honey-insurance-to-launch-insurance-offering-in-australia/ Wed, 05 Jun 2024 01:45:53 +0000 https://insuranceasianews.com/?p=155187 The supermarket chain's insurance arm will offer car, homeowners and renters, including free smart home sensors, and landlord policies across the country.

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German supermarket chain Aldi has launched Aldi Insurance in Australia, which will be underwritten by Queensland-based insurer RACQ  and backed by specialist home insurtech Honey Insurance.
The compan...

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]]> RACQ appoints Bank of America for potential sale: report https://insuranceasianews.com/racq-appoints-bank-of-america-for-potential-sale-report/ Fri, 10 May 2024 07:41:27 +0000 https://insuranceasianews.com/?p=153722 Plan to divest insurance arm that includes car, home, pet and caravan insurance products is gaining traction, according to a local media report.

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Royal Automobile Club of Queensland (RACQ) has reportedly appointed Bank of America (BoA) to explore a potential sale, according to a column in Australian Financial Review. RACQ CEO David Carter respo...

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]]> RACQ hit with US$6.6m penalty for pricing misconduct https://insuranceasianews.com/racq-fined-us6-6m-for-pricing-misconduct/ Thu, 30 Nov 2023 05:07:55 +0000 https://insuranceasianews.com/?p=139302 Tthe Australian Federal Court found that the mutual insurer misled customers about discounts available for motor, home, caravan and trailer and unique vehicle insurance policies.

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RACQ Insurance (RACQ) has been ordered to pay an A$10 million (US$6.6 million) penalty by the Federal Court for potentially misleading customers about pricing discounts available for certain types of ...

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]]> RACQ joins Australian cyclone reinsurance pool https://insuranceasianews.com/racq-joins-australian-cyclone-reinsurance-pool/ Mon, 03 Jul 2023 16:51:48 +0000 https://insuranceasianews.com/?p=128653 The carrier's statement said that while it supported the pool, its design and implementation of the current model will only deliver marginal benefits to members living in the north.

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Queensland insurer RACQ has become the latest to join the Federal government’s cyclone reinsurance pool, ahead of the 2023-24 cyclone season, a company statement said.
The carrier has become the fifth...

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