A word from our CEO
We’re excited for what 2025 will bring for our members and our community. We love hearing what’s important to you so we can create more value, and give back to you, our members. This is our reason for being.
Our new partnership in insurance is a perfect example. Premium increases, driven by risk and global pressures on the industry, are hitting household budgets hard and challenging the conventional business model for single state-based insurance providers. Late last year, we announced a 20-year partnership with a leading global insurer to help us keep your premiums affordable and ensure the ongoing sustainability of your RAA.
Under the partnership, Allianz Australia will underwrite our insurance business, while our insurance products, services and people will stay in SA under our trusted RAA brand. It’s a win-win, as we’ll reduce our risk and be able to deliver new products and services in the future.
This isn’t new for RAA. We’ve partnered with other leading providers for most of our 100 years in insurance, and we’re excited at the opportunities that will come in the next 20 years through the backing and expertise of a world-leading insurer like Allianz Australia.
In another terrific outcome for members, the partnership will see RAA receive an up-front payment of $642 million*, as well as other payments linked to growth and business performance over the life of the partnership. This creates long-term sustainability for RAA, and engaging with our members will be more important than ever as we consider how this money will be invested. An injection of this capital into RAA is a significant opportunity for our organisation and South Australia as a whole.
Giving a platform to our members to engage on governance, advocacy and products and services is so important to us so we can genuinely represent you and your interests. Throughout 2024 we met with thousands of members through our Annual General Meeting, regional and metropolitan roadshows, a dedicated member governance forum, and of course through our shop network, social media channels, member surveys, emails and news publications, including sa move and RAA Daily.
We exist purely to serve our members, so hearing from you is vital in shaping our future products and services. This includes the launch of RAA Energy off the back of an ACCC report showing four out of five households could be paying less for their electricity.
We wanted to give South Australians access to a trusted, fair and transparent electricity deal, and it’s great to hear almost 2000 members are already realising the benefits after making the switch to RAA Energy. Check it out at raa.com.au/energy
Last month, we bolstered our RAA Rewards member discount program with a new fuel offer through Caltex service stations across the state. Each year, our members save around $25 million to $30 million by flashing their membership card at a range of retailers and restaurants, so I encourage you to take advantage of this valuable membership benefit too.
Sadly, cost-of-living challenges won’t change in 2025 – and nor will our commitment to engaging with our members and delivering the value you’ve come to know and trust from your RAA.
Nick Reade
RAA Chief Executive Officer
*Subject to excess capital and completion adjustments.
IMAGE: RAA, Mike Smith.
