IAG overhauls IIA to sharpen broker services

Insurance Australia Group (IAG) has unveiled a strategic overhaul of its Intermediated Insurance Australia (IIA) division, aimed at enhancing operational effectiveness and service delivery to brokers, partners, and customers.

The restructure involves centralising key capabilities across underwriting, product, pricing, and claims functions.

Intermediated Insurance Australia restructure

IIA is the umbrella organisation for IAG’s intermediated brands, CGU and WFI Insurance. Under the new structure, these brands will retain their separate market identities while aligning more closely within shared functional units to support business efficiency and responsiveness.

Jarrod Hill, CEO of CGU & WFI Insurance, said the changes are part of a broader initiative to position the division for future growth and to better address customer and market expectations.

“By creating a more agile, innovative, and customer focused business, we will be better placed to deliver on our core purpose, address affordability, and respond to the current and future risk needs of our brokers, partners, and customers,” he said.

Leadership appointments

As part of the restructure, IIA confirmed a series of leadership changes:

• Fiona Geddes joins as executive general manager operations, bringing more than 27 years in financial services, most recently at ING as chief operations officer
• Damien Gallagher moves into the new role of executive general manager CX & growth CGU & WFI, overseeing brand and growth activities across both businesses

Additional appointments include:

• Darren O’Connell (executive general manager underwriting & product)
• Tim Rafton (executive general manager intermediated claims)
• Christa Marjoribanks (chief financial officer)
• Natalie May (executive manager people & culture)

Long-serving executive Andrew Beer, formerly with WFI, will leave the business after four decades. IAG acknowledged his leadership in agricultural insurance and contributions to both CGU and WFI.

Restructure strengthens footprint in intermediated market

Hill said the shift supports IAG’s objective to strengthen its footprint in the intermediated market segment.

“This is a necessary step for our business that will deliver transformational improvements to meet the changing needs of our brokers, partners, and customers while positioning us to achieve our future growth ambition to be the leading intermediated insurer in Australia,” he said.

The restructure follows IAG’s release of interim financial results for the first half of FY2025, reporting a net profit after tax of $778 million – a 91% increase from the previous period – and gross written premiums of $8.43 billion. The growth was attributed to the release of COVID-related provisions and stronger underwriting performance.