Retail giants Myer and Woolworths are following Australia Post, Coles and Kmart into the personal lines insurance market.

Industry sources say QBE is working with Woolworths to launch an insurance business, while Myer is widely reported to have chosen a preferred insurance partner after a low-key tender process.

QBE has not commented on the market rumours, and Woolworths spokesman Benedict Brook refuses to confirm or deny insurance plans.

He told insuranceNEWS.com.au the company’s only current interest in the financial services market is its credit and debit card business.

“I don’t want that to be inferred as me confirming we have an interest in the insurance market, merely that we have an interest and we already have a product in the financial services market.”

Myer GM Communications Mitch Catlin refused to comment on his company’s insurance plans on Friday when approached by insuranceNEWS.com.au.