Top truck insurer sees books boosted after purchase from Wesfarmers
National Transport Insurance (NTI) will gain a significant lift in customer numbers from July 1.
The deadline will see the rationalisation of Wesfarmers’ sale, revealed 18 months ago, of its insurance holdings, including commercial vehicle insurer Lumley Insurance.
Those firms were picked up for a reported $1.8 billion by Insurance Australia Group (IAG), parent of CGU, NTI’s joint owner with Verro.
Now CGU announced its commitment to transfer Lumley’s heavy motor and plant & equipment customers to NTI.
“The transfer is a clear demonstration of confidence in NTI by its shareholders, CGU and Vero, and a recognition of the value NTI offers as an experienced and award-winning specialist in heavy motor insurance,” NTI general manager – sales & distribution Mike Edmonds says.
“We look forward to working closely with customers, and their insurance intermediaries, during this transition period.”