RACQ releases FY26 Annual Report
Managing Director and CEO David Carter said it was a year of important progress, as RACQ continued to evolve to meet the changing needs of members and communities across Queensland.
“A key milestone was the continued transition of RACQ’s Insurance business through our 25-year strategic partnership with IAG,” he said.
“The partnership with IAG is delivering in line with expectations and supports our ambition for RACQ Insurance to become the State’s largest insurer.
“We announced the sale of our retail lending and deposit business to Bendigo Bank, providing members with access to a broader range of products, a larger physical footprint and enhanced digital banking services.
“These transactions, alongside our solid financial result, give us the capacity and confidence to invest in new technologies and capabilities that allow us to enhance the experiences, products and services we deliver to our members and scale our community efforts.”
Importantly, RACQ completed its multi-year Risk Transformation Program, which began in July 2023 with APRA confirming closure of the program.
Supporting members
As Queensland’s largest Club, RACQ continued to support members both at home and on the road, responding to 715,700 roadside assistance callouts.
“We reduced roadside assistance prices by approximately 10%, and the Member Benefits program also delivered more than $22m in savings across everyday expenses, providing cost-of-living relief for members,” he said.
“We further strengthened member value through new partnerships offering exclusive access to events and entertainment experiences across Queensland.
“At the same time, the Club expanded its Auto store network across the south east and continued to grow its solar and battery business.”
Scaling our community impact
“We supported communities by delivering six Community Assistance Projects and launching the State’s first Resilient Energy Centres program, helping them stay connected during natural disasters,” Mr Carter said.
“We announced a new Community Impact Strategy and a $100m perpetual community fund to provide a sustainable source of capital.
“RACQ is matching this by donating the investment returns from a further $100m (held in addition to the perpetual fund). Together with a substantial donation each year from RACQ’s annual profits, these funds will significantly bolster the Club’s community impact.
“This new strategy will support future partnerships focused on improving road safety, strengthening community resilience and enabling more inclusive mobility for all Queenslanders,” Mr Carter said.
Advocating on issues that matter
Alongside these community initiatives, RACQ continued to be a strong advocate on the issues that matter most to members.
“We contributed to the Queensland Government's e-mobility inquiry and launched our Get Serious on Road Safety campaign in response to the State's road safety crisis,” Mr Carter said.
“Road safety remains a top priority for RACQ, and we will continue to work with industry and government to drive stronger enforcement, tougher penalties and greater investment to reduce fatalities and serious injuries.
“We continued to push for fairer fuel pricing, providing trusted advice to members and advocating for stronger fuel price regulation.
“We also developed a first-of-its-kind, internationally recognised Vehicle Security Standard to assess how well vehicles are protected from theft, supporting broader efforts to reduce vehicle theft and joy riding.”
Driving a better future
To reaffirm the organisation’s commitment to reconciliation and First Nations people, RACQ published its Innovate 2.0 Reconciliation Action Plan.
“This stage is about deepening the work already underway and continuing to foster an organisation that understands the strength of Aboriginal and Torres Strait Islander cultures, communities and voices,” Mr Carter said.
“At RACQ, our work is purposeful - we’re reshaping the Club to better meet members’ needs, adapt to change, and drive a better future for all Queenslanders.
“That commitment remains at the heart of every decision we make.”
Read RACQ’s FY26 Annual Report
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The information in this article has been prepared for general information purposes only and is not intended as legal advice or specific advice to any particular person. Any advice contained in the document is general advice, not intended as legal advice or professional advice and does not take into account any person’s particular circumstances. Before acting on anything based on this advice you should consider its appropriateness to you, having regard to your objectives and needs.
Insurance Products (excluding Travel Insurance) are issued by RACQ Insurance Limited ABN 50 009 704 152 (RACQI) and arranged by RACQ Distribution Services Pty Ltd (RDS) ABN 35 116 361 650, AFSL 567130 and RDS' authorised representatives (including RACQ Operations Pty Ltd ABN 80 009 663 414, AR No. 234978 (RACQO)). Conditions, limits and exclusions apply.
Any advice provided by RDS and RACQO is general advice only and does not take into account your personal objectives, financial situation or needs and you will need to consider whether the advice is appropriate for you. Read the Product Disclosure Statement (PDS) before making a purchase decision on the product. You can also access our Target Market Determinations on this website.
RDS receives a commission from RACQI for the policies it arranges. RACQO receives fees paid for services it provides to RDS. Further details about remuneration are available on request prior to purchasing.
Banking and loan products issued by Members Banking Group Limited ABN 83 087 651 054 AFSL/Australian credit licence 241195 trading as RACQ Bank. Terms, conditions, fees, charges and lending policies apply. This is general advice only and may not be right for you. This information does not take your personal objectives, circumstances or needs into account. Read the disclosure documents for your selected product or service, including the Financial Services Guide and the Terms and Conditions, and consider if appropriate for you before deciding.
Except for RACQ Bank, any RACQ entity referred to on this page is not an authorised deposit-taking institution for the purposes of the Banking Act 1959 (Cth). That entity’s obligations do not represent deposits or other liabilities of RACQ Bank. RACQ Bank does not guarantee or otherwise provide assurance in respect of the obligations of that entity, unless noted otherwise.
RACQ Bank subscribes to the Customer Owned Banking Code of Practice which establishes higher standards than the law requires. The Code reflects modern consumer expectations and developments in approaches to issues such as consumer vulnerability, guarantors, and supporting customers through financial hardship. Please read our Customer Owned Banking Code of Practice page for more information.
RACQ Operations Pty Ltd (ABN 80 009 663 414, AR No. 234978) and Members Travel Group Pty Ltd (ABN 45 144 538 803, AR No.432492) (RACQ) are authorised representatives of the RACQ Travel Insurance insurer Tokio Marine & Nichido Fire Insurance Co., Ltd. (ABN 80 000 438 291 AFSL 246 548) (Tokio Marine). Tokio Marine Management (Australasia) Pty Ltd (ABN 69 001 488 455, AR No. 1313066) is an authorised representative of Tokio Marine, and administers RACQ Travel Insurance as the managing agent on behalf of Tokio Marine. Terms, conditions (including eligibility criteria), exclusions, limits and sub-limits apply. Any advice is general advice only, and does not take into account your specific objectives, financial situation or needs. Before you purchase, please consider the Combined Product Disclosure Statement (PDS) / Financial Services Guide (FSG) and Target Market Determinations (TMDs) available at racq.com or on request from RACQ.