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Report: Suncorp reviewing options for general insurance distribution arm

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Report: Suncorp reviewing options for general insurance distribution arm

Australia's Suncorp Group Ltd. has hired an adviser to review options for its general insurance distribution arm, Resilium Pty Ltd., The Australian Financial Review's Street Talk reported.

The adviser, 333 Capital, will explore all possible options for Resilium, including a sale, partnerships and joint ventures. However, Suncorp is more likely to sell the unit, given the interest of large insurers in the Australian insurance broking sector, according to the report.

Resilium is expected to be offered to Australia-based Steadfast Group Ltd., AUB Group Ltd. and other international insurers. A Suncorp spokeswoman declined to comment.