Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search


Vero Purchases Autosure Group Holdings Insurance

Vero Announces Purchase Of Insurance Business Of Autosure Group Holdings

Insurance company of the year, Vero, has entered into an agreement to acquire the motor vehicle and consumer goods warranty and credit insurance business of AutoSure Group Holdings Limited (AutoSure).

AutoSure is a well established New Zealand company and the largest provider of warranty and credit insurance products to the New Zealand motor industry. Vero is purchasing the future business of AutoSure and does not include its current portfolio of insurance policies.

Due to the high recognition and popularity of the AutoSure brand in the New Zealand market, Vero will continue to run the operation as a stand-alone business under the AutoSure brand. The purchase has been approved by Vero’s parent group, Promina, and is expected to be completed on 27 August 2004.

Commenting on the sale, AutoSure Managing Director, John Copson, said "We see this as an exciting opportunity to provide AutoSure with additional product lines and immense resources to further enhance its position in the markets it serves.”

Vero Chief Executive Roger Bell says AutoSure is a well established and highly respected brand. “The purchase fits well with Promina’s business model aims of owning separate but complementary specialist businesses. The AutoSure brand sits well with the Vero operation in that it is a quality provider, focusing on service, innovation and excellence.”

Mr Bell says Vero has a proven track record of successfully making acquisitions that fit the company’s business model. “Most recently Vero entered into a joint venture with leading travel insurer, Comprehensive Travel.”

© Scoop Media

Business Headlines | Sci-Tech Headlines


Media Mega Merger: StuffMe Hearing Argues Over Moveable Feast

New Zealand's two largest news publishers are appealing against the Commerce Commission's rejection of the proposal to merge their operations. More>>


Approval: Northern Corridor Decision Released

The approval gives the green light to construction of the last link of Auckland’s Western Ring Route, providing an alternative route from South Auckland to the North Shore. More>>


Crown Accounts: $4.1 Billion Surplus

The New Zealand Government has achieved its third fiscal surplus in a row with the Crown accounts for the year ended 30 June 2017 showing an OBEGAL surplus of $4.1 billion, $2.2 billion stronger than last year, Finance Minister Steven Joyce says. More>>


Mycoplasma Bovis: One New Property Tests Positive

The newly identified property... was already under a Restricted Place notice under the Biosecurity Act. More>>

Accounting Scandal: Suspension Of Fuji Xerox From All-Of-Government Contract

General Manager of New Zealand Government Procurement John Ivil says, “FXNZ has been formally suspended from the Print Technology and Associated Services (PTAS) contract and terminated from the Office Supplies contract.” More>>