Insurance Australia Group has signed up Elders Insurance to increase its market share in the country Queensland CTP market. The policies will be underwritten by IAG subsidiary NRMA Insurance.

It’s a neat fit. While it’s Australia’s leading provider of CTP insurance, IAG/NRMA has only 1% of the Queensland market. Elders is the country’s largest provider of rural insurance services, serving more than 50,000 customers.

Doug Pearce, IAG Group Executive, Personal Injury Insurance, says the alliance is “a perfect fit for both organisations. This agreement will allow Elders to offer its customers CTP insurance for the first time, and will provide NRMA Insurance with access to a key growth market.”