The Awards honour the outstanding accomplishments of both individuals and businesses within the insurance sector, celebrating the impressive and diverse talent that drives the industry.

This year was a sell-out, with over 800 attending the awards evening on Thursday the 22nd of August at The Star in Sydney.

ANZIIF would like to congratulate the winners of this year’s awards, who all demonstrated excellence, passion and a commitment to professionalism.

“Tonight, we celebrated not just the winners, but the dedication, innovation, and brilliance that define our industry. Your achievements reflect a commitment to excellence that inspires us all. Congratulations to our winners for setting new benchmarks and leading the way with their outstanding contributions”, says ANZIIF CEO, Katrina Shanks.

ANZIIF would like to thank the judging panel, who gave their time to assess this year’s submissions, and our partners and sponsors who generously provide their ongoing support to make our events possible.

ANZIIF would also like to thank everyone who took the time and effort to create a submission this year. Your contributions to the industry are incredibly valued.

The winners for the 2024 Australian Insurance Industry Awards are as follows:

Small Broking Company of the Year 
Trade Risk

Large Broking Company of the Year 
Aon

Authorised Representative Network of the Year 
Insurance Advisernet

Underwriting Agency of the Year 
NTI

Small-Medium General Insurance Company of the Year 
Adica Insurance

Large General Insurance Company of the Year 
Allianz Australia

Claims Team of the Year 
NTI

Life Insurance Company of the Year 
AIA

Insurtech Start-up of the Year 
Simfuni

Professional Services Firm of the Year 
Finity

Service Provider to the Insurance Industry 
Gallagher Bassett

Excellence in Workplace Diversity and Inclusion 
Allianz Australia

Excellence in Environmental, Social and Governance Change
CHU Underwriting Agencies

Young Insurance Professional of the Year 
Demi Peters, Barry Nilsson

Insurance Leader of the Year  
Andrew Hall, Insurance Council of Australia (ICA)

ANZIIF Lifetime Achievement Award 
Richard Enthoven

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Matt Comyn

Commonwealth Bank of Australia (CBA) has announced it has entered into an agreement to sell its Australian general insurance business (CommInsure General Insurance) to the Hollard Group (Hollard), and establish an exclusive 15-year strategic alliance with Hollard for the distribution of home and motor vehicle insurance products to CBA’s retail customers in Australia (the Transaction).

The transaction consideration includes $625 million of upfront consideration, together with deferred payments (payable upon achieving certain business milestones) and additional investment from Hollard throughout the 15-year strategic alliance to drive innovation and enhance the customer experience. CBA will also continue to earn income on the distribution of home and motor insurance products.

A pre-completion dividend is also expected to be received by CBA (amount subject to the timing of completion, business performance and regulatory approvals).

Chief Executive Officer, Matt Comyn, said: “The transaction is consistent with CBA’s strategy to deliver differentiated customer propositions and the best integrated digital experiences. CBA and Hollard will co-invest in innovative, market-leading products and services that anticipate and meet the changing needs of our customers.”

Group Executive Retail Banking Services, Angus Sullivan, said: “This long-term strategic alliance will bring together CBA’s number one mobile banking app and Australia’s largest branch network with Hollard’s innovative insurance products and enhanced claims technology, to deliver excellent experiences for our customers.”

Managing Director for Hollard Holdings Australia, Richard Enthoven, said: “We are incredibly excited by today’s announcement. The synergies between CBA and Hollard extend well beyond strategy and market segmentation. We have a shared vision for the future of home insurance, the potential for better customer outcomes, and an exciting role for digital innovation along our entire value chain.”

CBA financial impacts

Upon completion, the transaction is expected to deliver an increase of approximately $400m of Common Equity Tier 1 (CET1) capital, resulting in a pro forma uplift to the Group’s CET1 ratio of approximately 9 basis points, on an Australian Prudential Regulation Authority (APRA) basis, as at 31 March 2021. The Transaction is estimated to result in a post-tax gain on sale of approximately $90m, which includes estimated post-tax separation and transaction costs of approximately $130m.

Timing and conditions

Completion of the Transaction remains subject to APRA approval and is currently expected to occur in mid-calendar year 2022.

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