Asteron to Transfer Life Insurance to Suncorp
Asteron Insurance has announced that from 1 January 2012, Asteron's life insurance business will be transferred to Suncorp Life & Superannuation Limited (SLSL).
Asteron has stated that the proposed transfer will simplify the business, since Asteron already functions within Suncorp itself.
Asteron's Relationship to Suncorp
Two life insurance companies currently operate within the Suncorp Group, Asteron Life Limited (Asteron) and Suncorp Life & Superannuation Limited (SLSL). This was a result of the Promina and Suncorp merger in 2007.
Asteron Life Insurance Clients
The transfer means that moving forward Asteron policies will be administered by SLSL rather than by Asteron.
There will be no changes to clients' policy terms and conditions. The Asteron Insurance brand will remain on client statements and communications and it will be business as usual.
Asteron policy holders will be formally notified in due course about the transfer.
October 2011