IAG subsidiary NRMA Insurance has expanded its services to Tasmania, offering home and motor insurance – but its major competition will be from its own sister companies.

The Sydney-based giant is already the largest general insurance provider in Tasmania through CGU and Swann Insurance.

CEO Michael Hawker says the move is a strategic one, and he foresees “significant opportunities for long-term growth” within the state. “We believe there is an exciting opportunity to complement our existing business with direct insurance products sold under the NRMA Insurance brand.”

State Manager Matt Harris says the combination of local claims management and the group’s national infrastructure will help keep premiums down. “This national approach enables resources to be directed to where they are needed most, particularly during major catastrophes such as bushfires and storms,” he said.