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

 

I Sing The Highway Electric: Charge Net NZ To Connect New Zealand

BMW is turning Middle Earth electric after today announcing a substantial contribution to the charging network Charge Net NZ. This landmark partnership will enable Kiwis to drive their electric vehicles (EVs) right across New Zealand through the installation of a fast charging highway stretching from Kaitaia to Invercargill. More>>

ALSO:

Watch This Space: Mahia Rocket Lab Launch Site Officially Opened

Economic Development Minster Steven Joyce today opened New Zealand’s first orbital launch site, Rocket Lab Launch Complex 1, on the Mahia Peninsula on the North Island’s east coast. More>>

Earlier:

Marketing Rocks!
Ig Nobel Award Winners Assess The Personality Of Rocks

A Massey University marketing lecturer has received the 2016 Ig Nobel Prize for economics for a research project that asked university students to describe the “brand personalities” of three rocks. More>>

ALSO:

Nurofen Promotion: Reckitt Benckiser To Plead Guilty To Misleading Ads

Reckitt Benckiser (New Zealand) intends to plead guilty to charges of misleading consumers over the way it promoted a range of Nurofen products, the Commerce Commission says. More>>

ALSO:

Half A Billion Accounts, Including Xtra: Yahoo Confirms Huge Data Breach

The account information may have included names, email addresses, telephone numbers, dates of birth, hashed passwords (the vast majority with bcrypt) and, in some cases, encrypted or unencrypted security questions and answers. More>>

ALSO:

Rural Branches: Westpac To Close 19 Branches, ANZ Looks At 7

Westpac confirms it will close nineteen branches across the country; ANZ closes its Ngaruawahia branch and is consulting on plans to close six more branches; The bank workers union says many of its members are nervous about their futures and asking ... More>>

Interest Rates: RBNZ's Wheeler Keeps OCR At 2%

Reserve Bank governor Graeme Wheeler kept the official cash rate at 2 percent and said more easing will be needed to get inflation back within the target band. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news