Promina Group
 | |
| Subsidiary of Suncorp-Metway Limited ASX: SUN | |
| Industry |
General Insurance Wealth Management |
| Founded | 2003 |
| Headquarters | Brisbane, Australia |
Area served | Australia and New Zealand |
Number of employees | 7,200 (prior to acquisition by Suncorp-Metway in 2007) |
The Promina Group, an Australian and New Zealand insurance company (2003–07), formerly had listing on the Australian and New Zealand stock-exchanges. Suncorp-Metway Limited took over full ownership of the group 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
Australia
General Insurance
- AAMI (Australian Associated Motor Insurers Limited) - formerly Club Motor Insurance Agency
- APIA (Australian Pensioners Insurance Agency)
- Just Car Insurance
- Shannons
- Vero Insurance
Life Insurance
- Asteron
Asset/Investment Management
- Tyndall
New Zealand
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