CGU Insurance is one of Australia's largest intermediary-based general insurers. It holds the distinction of being Australia's largest regional and rural insurer. CGU Insurance is also Australia's largest provider of workers' compensation services. CGU Insurance has state offices in Adelaide, Brisbane, Launceston, Melbourne, Perth and Sydney, and major regional offices in Ballarat and Newcastle. CGU Insurance has a network of 76 branches throughout metropolitan, regional and rural Australia. CGU Insurance is also part of Insurance Australia Group (IAG), which is Australasia's leading general insurance group. In 2003, IAG acquired CGU Insurance, ensuring CGU Insurance's position in the Australian insurance market.
CGU Insurance was formed through the merger of two insurance companies, Commercial Union plc and NZI's parent company, General Accident plc. Commercial Union's oldest company, the Hand in Hand Fire & Life Insurance Society, was founded after the Great Fire of London in 1666. The Hand in Hand provided fire insurance, as well as being one of the first mutual societies. Hand in Hand became a part of the Commercial Union Group in 1905. Commercial Union, which was established after the Great Fire of London as well, started Australian operations in 1865, and soon became one of the country's leading insurers.
Meanwhile, the New Zealand Insurance Company (NZI), the Australian arm of General Accident plc was founded in Auckland, New Zealand in 1859. General Accident Fire and Life Assurance Corporation (General Accident) acquired NZI Corporation Limited in 1988.
CGU Insurance holds a major stake in providing personal insurance, commercial insurance and rural insurance to Australians. CGI's personal insurance catalogue includes home insurance, private car insurance, landlords insurance, residential strata insurance, caravan insurance, boat insurance, travel insurance, and recreational horse insurance.
CGU Insurance's commercial insurance services include business insurance, office insurance, industrial special risks, broadform liability, commercial and fleet motor insurance, construction insurance, machinery/computer breakdown, personal income insurance, voluntary workers personal accident, corporate travel insurance, and complex risks insurance. CGU Insurance is a leading provider of rural insurance. Farm insurance, farm motor insurance, livestock insurance, and crop insurance are available.
Other popular products that CGU Insurance has provided include motor trades insurance, marine insurance, home warranty insurance, professional risks and workers compensation.