Asteron Life : Everything you need to know

Asteron Life – Everything you need to know

About Asteron Life

Asteron Life is a New Zealand life insurance company providing a range of life, trauma, income protection, total and permanent disability and business cover to the New Zealand market.

It is a licensed insurer with the Reserve Bank of New Zealand (RBNZ), and currently holds an A+ financial strength rating from Standard & Poor’s. Along with Vero and AA Life, Asteron Life is one of the businesses owned by Suncorp New Zealand, which is responsible for its overall strategy and operational delivery. It underwrites all AA Life policies.

It has been recognised as a leading insurer in various industry awards, having been a 2019 Life Insurance Company of the Year finalist at the New Zealand Insurance Awards. It also took home the 2019 Excellence in Workplace Diversity and Inclusion award, which recognised its commitment to promoting diversity and equality in the workplace.

Asteron Life’s insurance policies have been awarded the WriteMark award for plain English, and the insurer works closely with independent insurance advisers who offer tailored solutions to its customer base.

Brief history of Asteron Life

Asteron Life’s history can be traced back to 1878, when it was originally known to Kiwis as Royal and Sun Alliance.

Asteron Life Limited was founded in 1985, its core lines of business including the underwriting of accident and health insurance. It is currently one of Suncorp New Zealand’s life businesses and a part of Suncorp Group, a major player with over nine million customers and AU$96 billion in assets.

Leadership at Asteron Life

Paul Smeaton – CEO

Smeaton is the chief executive officer of Suncorp New Zealand, and is responsible for its full portfolio of businesses including Vero, AA Life and Asteron Life. He is also a director of Vero Liability, AA Insurance and the Insurance Council of New Zealand.

Smeaton joined Suncorp in 1994, having spent seven years working in the UK. He has over 30 years’ experience in banking, fund management, stock broking, life, superannuation and general insurance.

He has held a range of senior leadership positions within the company, and has worked within its technology, corporate projects, human resources, procurement and general insurance departments.

Campbell Mitchell – Executive General Manager, Claims

Mitchell is responsible for managing Suncorp New Zealand claims across all of its general and life brands, including all speciality brands.

He joined the company in 2017 before moving to the claims team in 2019. He was previously the CMO at Fairfax Media, and has worked with various new ventures and start-ups, where he held senior roles in marketing, sales and digital.

Helen McNeil – Chief Risk Officer

McNeil is responsible for Suncorp Group’s internal and external risk, compliance and regulatory matters. She has over 11 years’ experience in insurance across Australia and New Zealand, having spent 15 years as a litigation solicitor.

Her career highlights include leading on Suncorp Group’s Earthquake Recovery Programme, and she was a key contributor in the insurance sector’s response to the EQC Act review.

Culture at Asteron Life

Asteron Life regularly sponsors promising young sportspeople across New Zealand, and is part of Suncorp Group’s wider corporate social responsibility framework. This is based on helping create resilience in local communities, dedicating resources to sustainable growth, growing trust and transparency and ensuring it maintains a culture of responsible financial services.

Asteron Life : In the news