History

1833

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

1838

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

1848

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

1865

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

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

Alliance Assurance logo

Derwent Tamar logo

Royal Insurance logos

London Assurance logo

1959

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

1961

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

1965

Sun Alliance merges with London Assurance.

1979

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

1985

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

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.

1992

Royal Insurance & Sun Alliance Insurance merge in Australia to form Royal & Sun Alliance.

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.

1995

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

1997

The group purchases Connelly Temple in Australia.

Sun Alliance logo

Sun London Assurance logo

Sun Alliance Australia Group logo

Australian Alliance Insurance logo

Sun Alliance and Royal Insurance logo

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.

2004

Purchase of Aviation Office of Australia.

Purchase of Booker Aviation.

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

2005

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

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).

Launch of new Vero Affinity business unit.

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

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

2007

Promina Group and Suncorp Network join in what becomes one of the largest financial services mergers in Australia.

2008

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

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

2011

As part of the Suncorp Network, Vero shares in the General Insurance Company of the year award at the Australian Banking and Finance Insurance Awards.

2012

Vero Insurance Limited which issued Vero branded general insurance products changed its name to AAI Limited. Now, AAI Limited trading as Vero Insurance issues the Vero branded general insurance products.

Vero becomes the Co-major sponsor of the Brisbane Lions AFL club in December 2012. Vero's partnership with the Lions is aimed at increasing brand awareness.

As part of the Suncorp Network, Vero shares in the ANZIIF claims provider of the year award.

Vero launches the SME Insurance Index, a ground breaking new study into the behaviours and attitudes of SMEs towards insurance and insurance brokers.

2013

Vero celebrates origins that go back 180 years in Australia.

As part of the Suncorp Network, Vero shares in the General Insurance Company of the Year award from the Australian Banking and Finance Insurance Awards, and was a finalist in the ANZIIF claims provider of the year.

2015

Vero celebrates the 10th anniversary of the RM Advancer Awards

2016

Vero launches the Business Success Hub

Vero History

With origins dating back to 1833, Vero has quite a history!

Download the history PDF