Promina Group

The Promina Group, an Australian and New Zealand insurance company (200307), formerly had listing on the Australian and New Zealand stock-exchanges. Suncorp-Metway Limited took over full ownership of the group in 2007.

Promina Group Limited
TypeSubsidiary of Suncorp-Metway Limited ASX: SUN
IndustryGeneral Insurance
Wealth Management
Founded2003
HeadquartersBrisbane, Australia
Area served
Australia and New Zealand
Number of employees
7,200 (prior to acquisition by Suncorp-Metway in 2007)

History

Promina Group formed after the "demerging" of the Australian and New Zealand operations of Royal & SunAlliance UK in 2003. When acquired by Suncorp in 2007, it had 210 offices across Australia and New Zealand. The Promina Group traces its operations back to 1833 in Australia and back to 1878 in New Zealand.

Takeover

On 12 October 2006, Queensland-based bancassurance group Suncorp-Metway Limited made a A$7.9 billion bid for the purchase of Promina Group. The Australian regulatory authorities and the Promina shareholders subsequently approved the merger, which took place on 20 March 2007.

Brands

General Insurance

Life Insurance

Asset/Investment Management

General Insurance

  • AA Insurance (joint venture between Suncorp and the New Zealand Automobile Association)
  • Autosure
  • AXIOM
  • Comprehensive Travel Insurance
  • Mariner
  • SIS
  • Vero/Vero Marine/Vero Liability

Life Insurance

  • Asteron

Asset/Investment Management

  • Guardian Trust
  • Tyndall


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