Suncorp hails life brands' growth

Asteron Life and AA Life pulled in a profit of $18 million in the six months ended December.

The insurer recorded an overall group profit of A$537m ($568m) for the half.

Its life insurance brands recorded solid growth, the insurer’s New Zealand chief executive Paul Smeaton said.

In-force premium increased 8.1%, driven by increases in new business, strong customer retention rates and hybrid commission structures.