Resolution Life completes NZ$410M Asteron Life acquisition

Resolution Life announced that Resolution Life Australasia, its trans-Tasman life insurer, has completed the NZ$410 million acquisition of Asteron Life from Suncorp Group Limited.

Asteron Life will remain open to new business and continue to operate under the Asteron Life brand and as a standalone New Zealand licenced and incorporated life insurance company. It will be led by Grant Willis as Chief Executive Officer – Asteron Life New Zealand and the business will be overseen by the Asteron Life Board, chaired by Simon Tyler.

“We are delighted to have successfully completed the acquisition of Asteron Life. This is a further demonstration of our commitment to growth in the New Zealand market and reaffirms our capability in the acquisition and integration of complex transactions; working in close partnership with current owners. While Asteron Life and Resolution Life will continue to operate under separate brands in New Zealand, both businesses will benefit from the combined scale, capabilities and broader reach in the local market. We look forward to welcoming our new colleagues, customers and advisers, and remain committed to ensuring a smooth integration process that prioritises a good experience.” – Tim Tez, Chief Executive Officer Resolution Life.