News

We’re bringing our life businesses together

Bringing our life businesses together from 1 January 2012

Important news for all of our customers with either an Asteron Life Limited ABN 64 001 698 228 or Suncorp Life & Superannuation Limited ABN 87 073 979 530 (SLSL) policy.

Life insurance business transfer approval

On Wednesday 14 December 2011, the Federal Court approved our proposal to bring together the life insurance businesses of Asteron Life Limited and SLSL by transferring the Asteron Life Limited business into SLSL effective on and from 1 January 2012.

Details of the transfer
Four years ago, Asteron Life Limited became part of the Suncorp Group which includes SLSL.  As both businesses have a similar range of life insurance products, SLSL and Asteron Life Limited have agreed it makes sense economically and practically to bring our life insurance businesses together.

On and from 1 January 2012, we are transferring Asteron Life Limited’s life insurance business to SLSL by way of a Scheme under Part 9 of the Life Insurance Act 1995.

What does this mean for you?
On and from 1 January 2012, all Asteron Life policies will be administered by SLSL, rather than by Asteron Life Limited. Other than a change to the issuer of all Asteron Life policies and the relevant statutory funds, there will be no changes to your policy terms and conditions or premiums. Your every day dealings with, and communications from Asteron Life will remain the same

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