Suncorp Group Completes NZ$410 Million Sale of New Zealand Life Insurance Unit

MT Newswires Live

2025/02/03

Suncorp Group (ASX:SUN) has completed the sale of its New Zealand life insurance business, Asteron Life, to Resolution Life for NZ$410 million, according to a Monday filing with the Australian bourse.

The first tranche of NZ$250 million was received on Jan. 31, with the remaining NZ$160 million due in 18 months, the filing said.

The sale leaves Suncorp's New Zealand general insurance operations unchanged, the filing added.

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