Vero aims to settle half of all quake claims in coming year as the Suncorp NZ unit returns to profit

Wed, 22 Aug 2012

By Paul McBeth Aug 22 (BusinessDesk) - Vero Insurance New Zealand, the general insurer owned by Australia's Suncorp Group, expects to complete more than half its claims from the Canterbury earthquakes in the coming year, after returning to profit in the latest financial year. Suncorp's New Zealand general insurance unit made a profit $25 million in the 12 months ended June 30, turning from a loss of $271 million a year earlier, when its books bore the brunt of the Canterbury quakes that devastated the country's second-biggest city. The retur...

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