The Manufacturers' Mutual Accident Insurance Association Limited was an Australian insurance company founded in 1914 primarily targeting the Workers' Compensation market. It was renamed Manufacturers Mutual Insurance, abbreviated MMI in 1920.
In 1960 the company acquired The Western Australian Insurance Company Limited, expanding again in 1989 with the acquisition of Chamber of Manufacturers Insurance. The final acquisition was in 1993 for Switzerland Insurance Australia Limited.
The company was known for its subsidiary lines, starting in 1987 with Combrook Pty Limited, an injury rehabilitation provider, and 1997 introducing DirecDial Financial Services Limited and SafetyNet Services Pty Ltd. DirecDial and SafetyNet was later integrated within the mainline businesses. Combrook was never integrated and remained a separate company as Workers' Compensation legislation prohibits insurance companies from also being the rehabilitation provider due to conflict of interest.
MMI was listed on the ASX in 1994. It was taken over by Allianz in 1998 though it continued to trade as MMI. The company was rebranded as Allianz Australia in 2000 when the company then ceased.
Famous quotes containing the words mutual and/or insurance:
“What men call friendship is no more than a partnership, a mutual care of interests, an exchange of favors—in a word, it is a sort of traffic, in which self-love ever proposes to be the gainer.”
—François, Duc De La Rochefoucauld (1613–1680)
“Before I get through with you, you will have a clear case for divorce and so will my wife. Now, the first thing to do is arrange for a settlement. You take the children, your husband takes the house, Junior burns down the house, you take the insurance and I take you!”
—S.J. Perelman, U.S. screenwriter, Arthur Sheekman, Will Johnstone, and Norman Z. McLeod. Groucho Marx, Monkey Business, terms for a divorce settlement proposed while trying to woo Lucille Briggs (Thelma Todd)