Shake-up won't disrupt adviser business: Suncorp

It announced last week that it is to carry out a corporate reorganisation of its New Zealand businesses.

Asteron Life, Vero and AA Life brands will sit under the Suncorp New Zealand name.

In its release detailing the new structure, including a new role for Asteron boss Nadine Tereora, Suncorp mentioned Asteron in its initial paragraph but then went on to discuss the promotion of general insurance.

There were concerns raised that the company could be signaling a move away from third-party distribution. In Australia, Suncorp last year shut its risk advice-focused Guardian Advice and Suncorp Financial Planning businesses.