AAMI and GIO go head to head
Sydney Morning Herald
Monday August 17, 2009
THE incoming chief executive of Suncorp, Patrick Snowball, is widely expected to undertake a review of the underwriter's multiple-brand strategy amid signs that its two leading brands could be cannibalising market share from each other.Recent figures compiled by the NSW Motor Accident Authority show AAMI has lost market share in compulsory third-party insurance across its home state market over the past 18 months.In the June quarter AAMI's market share was 12.3 per cent, down from 13.8 per cent the same time last year.However, GIO managed to increase its share of the NSW market by 0.9 percentage points during the quarter to 9.3 per cent.At the same time Insurance Australia Group, which operates brands such as NRMA and RACV, grew its compulsory third-party insurance market by 0.8 percentage points to 36.7 per cent.
© 2009 Sydney Morning Herald
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