Suncorp is Australia’s third largest general insurance group. The general insurance business includes personal insurance products such as home and contents and personal effects cover, motor and boat, compulsory third party insurance, workers compensation and a range of commercial insurance products tailored to the small to medium business market such as property, marine, rural and liability.
Suncorp includes leading general insurance, banking, life insurance, superannuation and investment brands in Australia and New Zealand. The Group has around 16,000 employees and relationships with nine million customers. It is a Top 25 ASX listed company with over $95 billion in assets.
They acquired AMP/GIO General Insurance in 2001 and AMP Ltd’s 50 percent shareholdings in motor club insurance joint ventures in RACQ (Queensland) and RAA (South Australia). Both of these joint ventures hold substantial market shares in their respective states. These businesses run independently and in competition with Suncorp’s existing general insurance business.
Following the merger with Promina, they now serve more than 6 million general insurance customers throughout Australia and New Zealand and provides personal and specialised insurances through well known brands such as AAMI, Apia, Shannons and Just Car in Australia and Vero in New Zealand.
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