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Insurance

Is Asteron for sale?

Thursday 7th of April 2022

The Australian says that Suncorp is understood to have appointed investment bank UBS to look at the sale of Asteron Life.

Queensland-based Suncorp also owns general insurer Vero as well as AA Life in New Zealand.

The Australian says sources believe that Asteron Life may have a value of about $300 million.

Asteron is one of the companies not to acquire a bank life business in recent years. AIA acquired ASB's Sovereign, nib recently bought Kiwibank's life business, Fidelity Life has just settled the Westpac Life acquisition and Partners Life is still working through the acquisition of BNZ Life.

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