Vero's History

Vero Insurance Limited (Vero), formerly known as Royal & Sun Alliance Insurance Australia Limited, is part of a group with origins dating back over 170 years. Vero offers highly specialised insurance solutions.

Backed by our size and stability, we are renowned for our specialist underwriting, insurance solutions and superior claims management. Our products and services are available through intermediaries including brokers, corporate partners, agents and risk managers.

Vero is a significant part of the Suncorp Group.

Timeline

2008 Suncorp announces that the GIO brand will represent their Workers Compensation portfolio

2008 Vero is confirmed as Suncorp’s primary intermediated insurance brand

2007 Promina Group and Suncorp Group join in what becomes the largest and most successful financial services merger in Australia

2006 Purchase of Australian Pacific Underwriting Agency (APUA) Pty Limited a specialist professional indemnity underwriting business

2006 Winning the Bronze Award and the People Award at the 2006 Australian Business Excellence Awards

2006 Acquisition of 50.5% of the shares in Australian Surety Corporation Pty Limited (ASC) and its wholly owned subsidiary New Zealand Surety Corporation Limited (trading as AP Surety)

2006 Launch of new Vero Affinity business unit

2005 Agreement for the exclusive renewal rights of Suncorp's intermediated commercial marine business

2004 Vero achieves A+ Standard & Poor's credit rating.

2004 Purchase of Aviation Office of Australia.

2004 Purchase of Booker Aviation.

2003 Royal & SunAlliance announces a new organisational structure in Australia and New Zealand and changes its name to Promina. The general insurance business changes its name to Vero.

1997 The group purchases Connelly Temple in Australia.

1995 General insurance portfolio of Commercial Union acquired. The deal includes the balance of shares in International Marine.

1994 The general insurance business of Royal Insurance is purchased in New Zealand. This included the SIS brand and a 50% share in International Marine.

1992 Royal Insurance & Sun Alliance Insurance merge in Australia.

1986 Australian Alliance Insurance is established as a separate company to service the insurance needs of older Australians through its brand Australian Pensioners Insurance Agency.

1985 SunAlliance acquires the Phoenix Group (Century, Prudential and Cornhill).

1979 The Prudential Cornhill Insurance Company of Australia Limited is incorporated in NSW.

1965 Sun Alliance merges with London Assurance.

1961 Royal Insurance acquires the merged London & Lancashire and Derwent & Tamar Group bringing into the Group Australia's oldest insurance company.

1959 Sun Alliance Insurance formed from the merger of Sun Insurance with Alliance Assurance.

1865 London Assurance opens with simultaneous appointments of agents in Sydney, Melbourne, Adelaide, Hobart and Launceston.

1865 The Sun Insurance Office commences operations as an agency in Melbourne.

1848 Royal Insurance opens its first agency in Adelaide, followed by Melbourne (1849), and Sydney (1850).

1838 Derwent & Tamar Insurance is established in Tasmania as Australia's first insurance company.

1833 UK based Alliance Assurance office is established in Australia, writing one of the country's first ever life assurance policies.

2008	Suncorp announces that the GIO brand will represent their Workers Compensation portfolio
2008	Vero is confirmed as Suncorp’s primary intermediated insurance brand
2007	Promina Group and Suncorp Group join in what becomes the largest and most successful financial services merger in Australia
2006	Purchase of Australian Pacific Underwriting Agency (APUA) Pty Limited a specialist professional indemnity underwriting business
2006	Winning the Bronze Award and the People Award at the 2006 Australian Business Excellence Awards
2006	Acquisition of 50.5% of the shares in Australian Surety Corporation Pty Limited (ASC) and its wholly owned subsidiary New Zealand Surety Corporation Limited (trading as AP Surety)
2006	Launch of new Vero Affinity business unit
2005	Agreement for the exclusive renewal rights of Suncorp's intermediated commercial marine business
2004	Vero achieves A+ Standard & Poor's credit rating.
2004	Purchase of Aviation Office of Australia.
2004	Purchase of Booker Aviation.
2003	Royal & SunAlliance announces a new organisational structure in Australia and New Zealand and changes its name to Promina. The general insurance business changes its name to Vero.
1997	The group purchases Connelly Temple in Australia.
1995	General insurance portfolio of Commercial Union acquired. The deal includes the balance of shares in International Marine.
1994	The general insurance business of Royal Insurance is purchased in New Zealand. This included the SIS brand and a 50% share in International Marine.
1992	Royal Insurance & Sun Alliance Insurance merge in Australia.
1986	Australian Alliance Insurance is established as a separate company to service the insurance needs of older Australians through its brand Australian Pensioners Insurance Agency.
1985	SunAlliance acquires the Phoenix Group (Century, Prudential and Cornhill).
1979	The Prudential Cornhill Insurance Company of Australia Limited is incorporated in NSW.
1965	Sun Alliance merges with London Assurance.
1961	Royal Insurance acquires the merged London & Lancashire and Derwent & Tamar Group bringing into the Group Australia's oldest insurance company.
1959	Sun Alliance Insurance formed from the merger of Sun Insurance with Alliance Assurance.
1865	London Assurance opens with simultaneous appointments of agents in Sydney, Melbourne, Adelaide, Hobart and Launceston.
1865	The Sun Insurance Office commences operations as an agency in Melbourne.
1848	Royal Insurance opens its first agency in Adelaide, followed by Melbourne (1849), and Sydney (1850).
1838	Derwent & Tamar Insurance is established in Tasmania as Australia's first insurance company.
1833	UK based Alliance Assurance office is established in Australia, writing one of the country's first ever life assurance policies.