TAL and Suncorp complete the acquisition of Suncorp’s Australian life insurance business

We are delighted to confirm that TAL's acquisition of Suncorp's Australian life insurance business is now complete.

The acquisition represents an important strategic milestone and a significant investment for TAL that will enable us to maintain our leadership position in the Australian market, and support more financial advisers and customers.

As previously communicated, at this time TAL will be maintaining the Asteron brand on-sale and we look forward to enhancing the already strong existing Asteron relationships with IFAs, Dealer Groups and Institutional APLs and Platforms. The acquisition will also give us a long term relationship with the Suncorp Group including a portfolio of well-established Australian brands: Suncorp, AAMI, APIA and GIO.

To lead the integration of the Suncorp Life business and ensure there is as little disruption as possible, TAL has appointed Andrew Howard to the role of Chief Commercial Officer. In this role, Andrew will be responsible for the ongoing performance of the Suncorp Life business as well as ensuring everything operates as smoothly as possible during the integration.

The integration of the Suncorp Life business will commence immediately and we are confident that the team will deliver an efficient transition, alongside strong business performance, and customer and partner outcomes during the integration period.

We remain committed to continuing to deliver the best possible outcomes for all our existing partners, customers and stakeholders.

In the meantime if you have any questions or concerns, please speak to Niall McConville, TAL General Manager - Retail Distribution.