WFI: Everything you need to know
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Headquarters address |
2/46 Colin St, West Perth, Western Australia, 6005, Australia |
|---|---|
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Year established |
1919 |
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Size (employees) |
More than 190 area managers in 80 offices in Australia |
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Gross written premium |
$13.3 billion (IAG, 2022) |
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Underwriting expertise |
Business, farm, and personal insurance |
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Key people |
Andrew Beer (executive general manager) |
About WFI
WFI Insurance Limited (WFI) offers a wide range of business, farm, house, car and strata policies and insurance packages for clients across Australia. It also provides workers’ compensation insurance to Western Australians.
Backed by Insurance Australia Group (IAG) – the largest general insurer in Australia and New Zealand – WFI serves its customer network through its more than 190 local area managers spread across over 80 offices across the nation.
WFI offers tailored insurance solutions to business owners, farmers, strata managers, landlords and homeowners. The insurer’s product range consists of:
Brief history
WFI began when the Westralian Farmers Co-operative launched an insurance department in 1919 to cater to the coverage needs of Western Australia’s farming community. During this time, the department only has a small number of representatives covering the entire agricultural area of the state.
In the 1980s, the insurance department became a separate company, known as Wesfarmers Insurance Limited, a wholly owned subsidiary of Wesfarmers Limited. It then acquired the country business of Royal Insurance in WA, and expanded into South Australia, Victoria, and southern New South Wales.
In the early 1990s, Wesfarmers Federation Insurance was established from the acquisition of Federation Insurance, giving the company a national presence.
Wesfarmers acquired Lumley General Insurance in Australia and New Zealand in 2003. In 2009, the firm rebranded to WFI. WFI joined IAG in 2014 and grew with 170 area managers and 16 client service teams nationwide. It celebrated 100 years of providing insurance to rural, commercial, and domestic markets in 2019.
Leadership at WFI
Andrew Beer – executive general manager
Beer is the executive general manager of WFI, a role he has served in an acting capacity starting in November 2020 and to which he was formally appointed in April 2021. He joined IAG in 2014 as head of China (IAG) and deputy CEO and chief risk officer of Bohai Property Insurance. Prior to his current position, he was executive manager of IAG’s AGRI & SME Solutions.
Beer also held several leadership roles at GCU – now an insurance brand under IAG – most recently as head of sales and distribution. He is also a Graduate of the Australian Institute of Company Directors (GAICD).
Culture at WFI
WFI is committed to creating a workforce and culture, where “we respect and value the different experiences of our people and harness the opportunity and business benefits that diverse ideas and perspectives bring to our organisation and stakeholders.”
The insurer believes that diversity is key to attracting and retaining the best people.
“Diversity is fundamental to this, because talent doesn’t confine itself to one gender or group of people,” WFI wrote on its website. “Attracting and retaining business leaders who are passionate about our customers and have a broad range of skills and experiences will encourage innovation and in turn, deliver an improved financial performance.”
As part of IAG, WFI recognises that volunteering is a way to help communities become “safer, stronger, and more confident.” WFI employees are entitled to one day, or 7.5 hours, of charity leave each year to volunteer for the cause of their choice.
In addition, the insurers' workers support more than 1,000 charities through workplace giving. All donations are matched by the IAG Foundation.
