Resolution Life acquires Suncorp’s NZ Life business
The company which acquired AMP Limited’s life insurance business, Resolution Life, has now acquired Suncorp New Zealand’s life insurance company, Asteron Life.
Resolution announced today that it has entered into an agreement with Suncorp Group to acquire its New Zealand life insurance business for NZ$410 million.
The announcement said the acquisition would provide Resolution Life with significant scale and capability in the New Zealand market, materially increasing its market presence to the benefit of customers.
Commenting on acquisition, Resolution Life Australia chief executive, Tim Tez said the transaction further demonstrated the conmpany’s commitment to the Australasian market.
“It follows Resolution Life’s entry into the Australian and New Zealand markets in 2020, and our recent acquisition of AIA Australia’s Superannuation and Investments business,” he said.
Many years ago I briefly entertained joining Suncorp’s Guardian dealergroup, thank god I made the right choice and ran, as evidenced when ASIC stepped in finally to examine it all and they shuttered the business. I remember my disbelief at the cowboys they had as advisers and also staff were a mixed bunch, one particular clown Mario or Maruchi somebody-or-other was a standout clueless git.