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Aims to grow in life insurance

Suncorp-Metway Ltd is aiming to more than twice new life insurance business over the next three years by housing its attendance in the direct sales and financial advice markets.
Suncorp Life chief executive Geoff Summerhayes says the business has strengthened and grown its occurrence in the independent financial adviser (IFA) market through its Asteron brand.
At the same time, the Brisbane-based company began structuring a straight distribution business by donating life insurance product through the Suncorp, GIO and APIA general insurance brands.
Suncorp-Metway Ltd is aiming to more than double new life insurance business over the next three years by structuring its attendance in the straight sales and financial advice markets.
Suncorp Life chief executive Geoff Summerhayes says the company has strengthened and grown its occurrence in the independent financial adviser (IFA) market through its Asteron brand.
At the same time, the Brisbane-based company began structuring a direct distribution business by presenting life insurance product through the Suncorp, GIO and APIA general insurance brands.
“Our policy is clear,” Mr. Summerhayes said in a speech on Wednesday.
“We are on path and have made outstanding development.”
Targeting growth in the life insurance business is part of Suncorp’s plan to invigorate the company as a multi-brand financial services supplier spanning banking, general insurance, wealth management and life insurance.
Mr. Summerhayes said the splitting up aimed to grow in-force premium by double digits on standard over the next three years while aiming also to decrease costs.
The company also wanted to recover the disability claims knowledge through improvements to the development.

This entry was posted on Thursday, June 24th, 2010 at 7:32 am and is filed under Life Insurance. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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