The parent company of Western Australia's RAC has appointed three new directors, including former Peet Limited chief executive Brendan Gore, as it prepares a renewed attempt to sell its massive general insurance arm.
New Board Appointments Signal Strategic Shift
Brendan Gore, who stepped down after two decades leading the ASX-listed residential developer Peet in mid-2025, was appointed to the board of RACWA Holdings on December 15. He was joined by experienced Western Australian company director Alison Terry. Former Western Power boss Guy Chalkley was added to the board on Boxing Day, December 26.
The appointments, which were not publicly announced by the RAC or RACWA at the time, fill vacancies created by the departure of long-serving director Dalton Gooding in November and Yasmin Broughton in June. The moves bring the RACWA board back to nine members.
Alison Terry also serves as a non-executive director for ASX-listed firms Matrix Composites & Engineering and Bannerman Energy. Guy Chalkley, who led Western Power for four years until early 2020, recently announced his retirement from his subsequent role as head of New South Wales electricity network operator Endeavour Energy.
The Stalled $1.35 Billion Insurance Deal
The board refresh comes at a critical juncture for the member-owned motoring organisation. RACWA is the holding company for the RAC, which is best known for roadside assistance but also operates WA's largest home and car insurer, alongside tourism parks, resorts, and retirement villages.
In May last year, the RAC announced a landmark $1.35 billion agreement to sell its general insurance business to the east coast-based Insurance Australia Group (IAG). However, the Australian Competition and Consumer Commission (ACCC) intervened in December, blocking the proposed acquisition.
The regulator concluded the deal would "likely seriously diminish competition" in Western Australia's home and motor insurance markets, potentially leading to higher premiums for consumers.
A Fresh Application Under New Merger Rules
Undeterred, IAG – with the RAC's support – has signalled its intention to challenge the decision. The insurer will ask the ACCC to reassess the purchase under the regulator's new merger regime, which took effect on January 1, 2026.
This new system grants the ACCC power to approve transactions it previously opposed on competition grounds, provided the public benefits of the deal are judged to outweigh any anti-competitive effects. It is understood IAG will lodge this new application within the coming weeks.
While the RAC has not detailed specific plans for the $1.35 billion in sale proceeds should the deal eventually proceed, the organisation has stated it continues to explore new opportunities in the tourism sector and is evaluating potential investments in car wash facilities.
The appointment of high-profile directors with extensive executive and governance experience suggests RACWA is fortifying its leadership as it navigates this complex and high-stakes strategic transition.
