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Suncorp Group Limited, known simply as Suncorp, is an Australian finance, insurance and banking corporation based in Brisbane, Queensland, Australia.It was formed on 1 December 1996 by the merger of Suncorp, Metway Bank and the Queensland Industry Development Corporation (QIDC), and is one of Australia's mid-sized banks (by combined lending and deposits) and its largest general insurance group.
In March 2018, Sunsuper signed up for the Insurance in Superannuation Voluntary Code of Practice - to be compliant from 1 July 2018. [5] In March 2019, Sunsuper and AustSafe Super merged. In April 2019, Sunsuper merged with CBH Super. [6] In May 2019, long-time CEO Scott Hartley stepped down after 5 years at the helm. [7]
AA Insurance is an independently operated, New Zealand-based joint venture between the New Zealand Automobile Association (NZAA) and Suncorp Group. The company offers home, contents, car insurance, and small business insurance. Launched in 1994, the company underwrites its own policies and sells direct to New Zealanders.
The insurer was founded as the Government Insurance Office New South Wales in 1927 to provide workers compensation insurance and adopted the name, GIO. The insurer listed on the Australian Securities Exchange in August 1992 and in January 1999 was acquired by AMP. In 2001, Suncorp acquired GIO as part of AMP's general insurance interests.
In 1994. SunAlliance purchased New Zealand's general insurance group Royal Insurance. In 2003, Royal & SunAlliance announced a change in organisational structure in Australia and New Zealand and changed its name to Promina. The name of the general insurance company was changed to Vero Insurance. In 2007, Promina and Suncorp merged.
Australian Associated Motor Insurers Limited (commonly referred to as AAMI) is an Australian general insurance provider offering car, home, CTP and business insurance. AAMI has vehicle assessment centres in Victoria, New South Wales, Queensland, South Australia and Western Australia. AAMI has been a brand and subsidiary of Suncorp Group since
The existing State Accident Insurance Office became the Workers' Compensation Department of the SGIO. The SGIO was responsible for insuring state assets and offering life insurance and general insurance (house, car) to the Queensland public. [1] On 1 March 1986 it was merged into Suncorp. [1]
Australia's insurance market can be divided into roughly three components: life insurance, general insurance and health insurance.These markets are fairly distinct, with most larger insurers focusing on only one type, although in recent times several of these companies have broadened their scope into more general financial services, and have faced competition from banks and subsidiaries of ...