# Insurance Australia Group Insurance Australia Group is an Insurance based in Sydney, Australia. ## Overview - **Organization type:** Insurance - **Headquarters:** Sydney, Australia - **Region:** Oceania - **Address:** Level 13, Tower Two, Darling Park, 201 Sussex Street, Sydney NSW 2000, Australia - **Founded:** 1920 - **Assets under management:** Undisclosed - **Website:** iag.com.au - **LinkedIn:** https://www.linkedin.com/company/iag - **Wikidata:** Q1665336 ## Regulatory record - **Reports private funds:** No ## About Insurance Australia Group traces its roots to the 1920 formation of National Roads and Motorists' Association Insurance. The modern entity, listed on the ASX under ticker IAG, operates as Australia's largest general insurer by gross written premium. Its core brands — NRMA Insurance, CGU, SGIO, SGIC, WFI, and Swann Insurance — underwrite motor, home, and commercial lines. A strategic joint venture with RACV, Insurance Manufacturers of Australia (70% IAG / 30% RACV), extends the firm's distribution into Victoria. The general account investment portfolio, managed internally, allocates primarily to fixed income, with growing commitments to infrastructure debt and real assets across Australia. The firm describes its investment philosophy as conservative, oriented toward matching liability duration rather than chasing absolute return. That said, the Berkshire whole-of-account quota share — renewed in modified form over the past decade — effectively de-risks a 20% slice of the underwriting book, allowing the portfolio to take duration and illiquidity positions that peer general insurers in the region often avoid. Fixed-interest mandates span global sovereign and corporate credit, while direct real estate includes the Darling Park headquarters and a Perth office asset. A network of WFI branches and AMI repair hubs in New Zealand adds an operational real-asset layer beyond pure financial holdings. As of mid-2025, Nick Hawkins serves as both Managing Director and CEO, a role he assumed in 2020 after serving as Deputy CEO and CFO. Tom Pockett chairs the board. The firm participates in industry governance through the Insurance Council of Australia, where Hawkins holds the presidency, and through membership in the Geneva Association and the UN Global Compact Network Australia. Philanthropic activity routes through the IAG Foundation. What distinguishes IAG structurally is the dual architecture of its balance sheet: a listed general insurer paired with a direct co-investment partnership with a globally significant strategic counterparty. The RACV joint venture in IMA and the Berkshire quota-share arrangement together mean that a material fraction of IAG's underwriting and investment posture is shaped through alliance governance rather than purely through corporate treasury. In a region where most general-account insurance portfolios remain heavily domestic and duration-short, IAG's hybrid structure pushes the boundary on what an insurer's investment office can do. ## Sectors - Insurance - Real Estate - Infrastructure - Private Credit ## Offices - Perth, Australia - New Zealand ## People - Nick Hawkins — Managing Director and CEO - Tom Pockett — Chair of the Board of Directors ## Questions ### What investment asset classes does IAG allocate to? IAG's general account invests predominantly in fixed-income securities — sovereign and corporate bonds — to match the liability profile of its insurance obligations. Beyond fixed income, the firm holds direct commercial real estate, including its Sydney headquarters at Darling Park and a Perth office, and has increased commitments to infrastructure debt and real assets. The portfolio does not publicly disclose allocation to public equities or venture capital. ### Who runs investment decisions at Insurance Australia Group? Investment strategy ultimately reports to Nick Hawkins, Managing Director and CEO, who held the CFO role before his 2020 appointment. Day-to-day portfolio management sits within an internal investment team at the Sydney headquarters, operating under a board-approved risk appetite statement. Specific named heads of investments are not publicly surfaced in the firm's disclosures. ### Is IAG structured purely as an insurer, or does it operate joint ventures that affect its portfolio? IAG operates two structurally significant partnerships. Insurance Manufacturers of Australia (IMA) is a 70/30 joint venture with RACV that underwrites motor and home policies in Victoria. The Berkshire Hathaway quota share is a 20% whole-of-account reinsurance arrangement. Both partnerships influence the firm's consolidated underwriting risk, and by extension, the amount of capital available to the investment portfolio. ## Related profiles - [Insurance and Care NSW](https://altss.com/profile/insurance-and-care-nsw) - [Insurance Commission of Western Australia (ICWA)](https://altss.com/profile/insurance-commission-of-western-australia-icwa) --- Last updated: 2026-06-03T20:00:00.000Z Canonical page: https://altss.com/profile/insurance-australia-group-iag Maintained by Altss — https://altss.com — methodology: https://altss.com/methodology