SYDNEY: Insurance Australia Group (IAG) has awarded its $30 million media account to MediaCom, replacing incumbent Carat, AdNews can reveal.
MediaCom scooped the account following a pitch involving BellamyHayden, Naked and Carat, which had held the account since 2003.
Initiative was involved in the early stages of the review, but pulled out following the exit of chief executive Roger Camplisson.
Early speculation of the review indicated that the strategy and buying parts of the business would be split, but IAG elected to leave the account consolidated, handing the entire business to MediaCom.
As first revealed by AdNews (AdNews 12 March, 2010 page 1) IAG kicked of a review of its retail insurance brands including NRMA, SGIC and SGIO in March.
The loss of the account is the second major blow for Carat in as many weeks after Yum! Restaurants moved its $40 million account to MediaCom three weeks ago.
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