Page 153 - Be Reasonable – Do It My Way , Peter E. Daly AM, My Story

CHAPTER 14 – AUSTRALIAN ASSOCIATED MOTOR INSURERS (AAMI)
Chapter 14 - Australian Associated Motor Insurers (AAMI)
AAMI itself was a very successful direct marketer and very profitable. Not only did I become the Chairman as part of rotation program of AAMI, but Brian Keane
and I had a great relationship and a common love of horseracing with AAMI’s sponsorship of the Spring Carnival and the Golden Slipper in New South Wales, providing great opportunities for entertainment and networking.
While there were some good times, there were also those times where we had differences of opinion.. AAMI was formed by the major tariff insurers to combat the non-tariff companies who could apply any rates they wanted to in order to secure business. During these tariff years there were about 80 companies that formed AAMI and the routine was that one of the CEO’s would be Chairman of the company for a couple of years. I might mention at this time, the insurance market was dominated by the Melbourne companies who were not over enamoured with their friends across the border in New South Wales. The tendency was to keep the Chairmanship of AAMI in the hands of the Melburnians which happened for many years.
I might also mention that much the same occurred in regard to the Presidency of the Insurance Council of Australia (ICA). It was again dominated by Chief Executives who were engaged by the Melbourne offices. I had the privilege of being Chairman of AAMI, having been appointed in 1981. This was soon after my arrival in Melbourne and was a good indication that I had started to make inroads into the industry.
Years after my appointment as Chairman and still on the Board, I was approached by John Mallick who was the head of Sun Alliance. John told me that there was to be an Extraordinary Meeting of the
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