Allianz Australia completed the acquisition of the general insurance business of the Royal Automobile Association for AUD642m.

Allianz Australia, an insurer and part of the global Allianz Group, completed the acquisition of the general insurance business of Royal Automobile Association, a member-owned organization, for AUD642m. “With Allianz Australia now underwriting RAA Insurance policies, we’re keeping the trusted RAA brand, award winning products and strong local presence right here in South Australia,” Nick Reade, Royal Automobile Association CEO.