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News archive | Media releases

New ownership for TIO

Posted: 24 November 2014

The Territory Insurance Office (TIO) will have new ownership but will remain a stand-alone brand in a deal worth $424 million.

Chief Minister Adam Giles said under the new arrangements, Allianz will take ownership of TIO insurance, while the banking services will transition to People's Choice Credit Union.

“The Government had the option of selling the insurance, banking and Motor Accidents Compensation arms of the business with an estimated total value of $609 million. However the Government has decided that selling the MAC scheme is not in the interests of Territorians and it will remain in Government ownership,” Mr Giles said.

The new arrangements for insurance will see the iconic TIO brand retained and flood, storm surge and cyclone cover continue to be offered.

“The funds raised through this change of ownership now enable us to invest in the infrastructure we need to unlock the full potential of the Northern Territory, creating jobs and opportunity for our children. They also allow us to do important community flood mitigation work.”

$215 million in proceeds will go into a long term Infrastructure Development Fund.

The remainder will be available for more immediate community infrastructure projects including $50 million for flood mitigation work in Rapid Creek, Katherine and Darwin’s Rural Area.

$25 million would be set aside for works in Rapid Creek and the Darwin Rural Area, while another $25 million would be allocated to Katherine.

The $25 million for Katherine includes $7.6 million to move Katherine’s Ambulance Centre out of the flood zone.

For more information, read the attached media release.

Driving economic growth in East Arnhem

Posted: 21 November 2014

A new body to drive regional economic development in East Arnhem was officially launched on Friday 21 November by the Northern Territory Government, Rio Tinto Gove Operations and the newly appointed Chairman.

The launch of ‘Developing East Arnhem’ in Nhulunbuy is an important step in building a strong economic future for the local community with new businesses and industries.

“The launch of Developing East Arnhem today delivers on the joint $4 million commitment by the Northern Territory Government and Rio Tinto to establish an independent body to drive industry and business growth across the region,” Chief Minister Adam Giles said.

The entity will be guided by a high calibre foundation Board of Directors, featuring Chairman John Cossons, Andy Lloyd and Ian Smith.

East Arnhem is emerging as a key element of our Northern Australia development agenda, given the region’s considerable natural and cultural assets, as well as its strong service and infrastructure base around the regional hub of Nhulunbuy.

Developing East Arnhem will focus on:

  • Promoting East Arnhem as a business destination

  • Facilitating business establishment and expansion

  • Increasing the capability of local industry

  • Supporting the establishment and growth of Indigenous enterprises.

Valuing excellence in the NT Public Sector

Posted: 17 November 2014

Close to 600 people turned out for the Chief Minister’s Awards for Excellence in the Public Sector at the Darwin Convention Centre on Friday 14 November.

The awards were an opportunity to recognise the innovative and important work being done across government to fast-track land release, diversify our economy, develop Northern Australia, create jobs in our regions, re-engage with Asia, protect our environment and enhance our great Territory lifestyle.

Winners shared in a $100 000 prize-pool donated by the private sector for use on professional development.

The Chief Minister also took the opportunity to announce a package of measures designed to make the Northern Territory Public Sector a more attractive place to work.

The changes included, among other things, the provision of more flexible working hours, the ability for non-essential staff to accrue leave to use over a new Christmas shutdown period, and the simplification of the recruitment process to make it easier to apply for government jobs.

For more information, or to view the full list of winners, visit the Chief Minister’s Awards website.