PressNewsFinancialsStakes and investments: Allianz Australia selected as preferred purchaser of Territory Insurance Office

Allianz Australia selected as preferred purchaser of Territory Insurance Office

Service & Contacts

Allianz Group Communications
Koeniginstr. 28
80802 Munich

Contact overview

Receive the latest Allianz news.


Follow Allianz in the social networks:


  • Contact

  • Newsletter

  • Social Media

Allianz Australia has entered into an agreement with the Government of the Northern Territory to purchase the general insurance business of the Territory Insurance Office (TIO) and enter into a 10 year agreement to manage the Government Motor Accidents Compensation scheme.


Allianz SE
Munich, Nov 24, 2014

Subject to the passage of the relevant legislation through the Parliament of the Northern Territory and Australian Competition and Consumer Commission approval, TIO’s general insurance business will transfer to Allianz’s ownership and Allianz will start servicing the Government Motor Accidents Compensation scheme on 2 January 2015.

Niran Peiris, Managing Director of Allianz Australia, said “Allianz is honored to be chosen as the preferred bidder of the Territory Insurance Office, a Territory icon. Allianz was attracted to TIO because we see northern Australia, particularly, the Northern Territory as the region that will play a major role in Australia’s growth and development in the decades ahead.”

Allianz Australia had gross written premiums of $3.9 billion in 2013. TIO is clear market leader in general insurance in the Northern Territory with gross written premiums of around $130 million.

“Allianz is Australia’s fourth largest insurance company, but our presence in the Northern Territory is well below that of other States. Thus, TIO was a perfect ‘fit’ for Allianz in a business sense,” Mr Peiris said.

Under the agreement, the TIO’s brand will continue and the cover provided by TIO’s property insurance products, in particular, home policies, will continue to include cover for flood, cyclone and storm surge. Allianz will maintain TIO’s community sponsorship programs, such as the TIO Stadium in Darwin, TIO Traeger Park in Alice Springs and the CareFlight TIO Rescue Helicopter.

Mr Peiris said, “the Territory Government was seeking a new owner that could bring an exceptional level of insurance expertise and financial strength to ensure that TIO had a long-term sustainable future. Allianz well meets this objective as one of Australia’s largest insurers and as a part of the global Allianz Group, the world’s largest general insurer.”

Concluding, Mr Peiris said “Allianz is honored to have been entrusted with the future of such an iconic Territory organization and we look forward to ensuring that TIO remains a much loved part of the Territory community in the future.”

  Forward Looking Statement disclaimer

As with all content published on this site, these statements are subject to our Forward Looking Statement disclaimer:


  Press contact

Michael Matern
Allianz SE
Phone +49.89.3800-2960
Send email

  More at

Millennials are optimistic pessimists

Allianz-Beware of generation generalizations
Dec 11, 2017 | Allianz SE

For people decidedly glum about the fortunes of their generation, millennials remain incredibly upbeat about their personal prospects, finds an Allianz study on millennials and their work attitudes and expectations


Euler Hermes Rating launches new SME & MidCap Rating Service in France

Allianz-Euler Hermes Rating Launches New SME & MidCap Rating Service in France
Dec 06, 2017 | Allianz SE

Euler Hermes, the world’s leading trade credit insurer, today announced the French launch of TRIBRating, a new rating service specifically designed for SMEs and MidCaps, offered by Euler Hermes Rating. 


Allianz Automotive and Scania Financial Services announce global strategic partnership

Allianz-Allianz Automotive and Scania Financial Services announce global strategic partnership
Dec 06, 2017 | Allianz SE

Allianz Partners (with its commercial brand Allianz Automotive) and Scania CV AB Financial Services have concluded a global cooperation agreement in June 2017. The cooperation comprises Scania branded motor insurance solutions for Scania customers.