Headquarters address: 80 Flinders St, Adelaide South Australia 5000, Australia
Year established: 1972
Size (employees): About 100
Gross written premium: $13.3 billion (IAG, 2022)
Underwriting expertise: Car, home, travel, and business insurance
Key people: Julie Batch (Group Executive Direct Insurance at IAG)
About SGIC
SGIC, formerly knowns as State Government Insurance Commission, is an insurance brand of Insurance Australia Group – the largest general insurer in Australia and New Zealand. SGIC trades in South Australia, offering a range of personal and commercial policies.
Established in 1972, the firm has become the largest general insurer in South Australia, operating in several branches across the state. Its insurance portfolio includes home, holiday rental, car, motorcycle & scooter, boat, caravan, CTP, travel, and business policies. The firm also provides home and business alarms.
A brief history of SGIC
SGIC was founded in January 1972 and started with a staff of just 24. When the bill establishing SGIC was introduced in the South Australian Parliament, then Premier Don Dunstan announced that the primary role of the organisation was to help keep premiums at “reasonable levels.” Dunstan added that this would ensure by competition that adequate service was given and secure funds to be invested in semi-governmental loans, which were crucial to the state’s development. SGIC’s first premium income, worth $155,026, came from insuring the motor vehicle fleet of the South Australian government.
By 1992, SGIC became the largest general insurer in South Australia selling motor, home, life, commercial, and health policies through its 19 branches. During that year, one in four South Australians was a client of SGIC.
SGIC was acquired by SGIO of Western Australia in the latter part of 1998. In 2000, SGIO, along with CGU, was acquired by NRMA Insurance. SGIC and CGU moved to their current head office location in 2005.
Leadership at SGIC
Julie Batch – group executive direct insurance at IAG
As group executive of direct insurance, Batch is responsible for IAG’s insurance brands, including NRMA Insurance, Rollin, SGIO, SGIC, and Swann. She was appointed to the post in March 2021.
Batch was formerly chief strategy and innovation officer and acting group executive intermediated insurance in Australia. She also served as the insurance giant’s chief customer officer. She joined IAG in 2005. Her previous roles within the company include chief analytics officer and chief risk officer in the firm’s direct insurance business. Earlier in her career, Batch has held senior roles in several reinsurance organisations, including Gen Re Australia, which is part of the Berkshire Hathaway Group.
Batch is a director of Gradient Institute, a not-for-profit organisation involved in the research, design, development, and adoption of ethical artificial intelligence systems. She was also previously the co-chair for the insurance stream of the United Nations Environment Programme Finance Initiative (UNEP FI PSI). Batch has a Master of Applied Finance and is a Fellow of ANZIIF.
Culture at SGIC
SGIC is committed to making communities safer. As part of this commitment, the company has been involved with several initiatives aimed at promoting road safety, crime prevention, and emergency readiness. These include:
SGIC is also doing its part in environmental preservation by minimising its impact through carbon-neutral business practices and by offering products and services that help encourage sustainable behaviour
In addition, as part of IAG Group, SGIC is a signatory to the United Nations Environment Program’s Finance Initiative. This includes a set of voluntary and aspirational global principles, the Principles for Sustainable Insurance.
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