After completing their acquisition of the Asteron life insurance business from Suncorp on 28th February 2019, TAL have decided to discontinue the Asteron brand.
TAL conducted a review across both its businesses to determine how they could best serve their customers and be sustainable over the long-term. They concluded that the best outcome for customers and advisers would be to simplify their business model and not offer two similar retail products.
TAL will therefore restructure its business by removing the Asteron product range from sale to new customers from 1 July 2019.
Brett Clark TAL Group CEO
For existing Asteron customers there will be no change to the way they are serviced by TAL. Brett Clark TAL Group CEO stated “We remain committed to ensuring the Asteron retail life insurance product remains relevant and up to date post 1 July 2019 for existing Asteron customers, in the same way we do for TAL customers today.”
Clark continued “We believe having a single retail proposition creates a simpler business structure and a more efficient service model. This allows us to provide better value propositions for customers and adviser partners.”
Asteron Life policies will continue to be quoted on Compare Quotes until they are removed from sale.