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Our Company

About us

Launching AA Insurance

AA Insurance was launched on the 15th of August 1994 as a joint venture between GIO Australia and the New Zealand Automobile Association. The goal of
AA Insurance was to provide AA Members with a range of insurance products tailored to specifically meet their needs.

Joining forces with Royal & Sun Alliance (later Promina)

In 2002, a new joint venture partner, Royal & Sun Alliance Insurance (New Zealand) Limited, acquired a 68% shareholding in AA Insurance Limited.

In 2003 Royal & Sun Alliance altered its organisational structure and listed on the New Zealand stock exchange as Promina. Royal Sun Alliance (New Zealand Limited) re-branded under the name Vero Insurance (New Zealand) Limited and is an integral part of the Promina family, which is New Zealand's largest composite insurance Group. Vero Insurance (New Zealand) Limited, and the New Zealand Automobile Association, are joint venture partners for AA Insurance Limited.

Partnership with Suncorp

In March 2007, Promina was bought by Suncorp, in the second biggest deal in Australian Financial Services history. This enables AA Insurance to be part of a top 20 ASX-listed group, with all the advantages this partnership brings.

Insurer Financial Strength Rating

AA Insurance Ltd has an A+ (Strong) Insurer Financial Strength Rating given by Standard and Poor’s (Australia) Pty Ltd on 8 January 2010.

The rating scale is:

 AAA Extremely Strong  B Weak
 AA Very Strong  CCC Very Weak
 A Strong  CC Extremely Weak
 BBB Good  R Regulatory Action
 BB Marginal  

The rating from 'AA' to 'CCC' may be modified by the addition of a plus or minus sign to show relative standing within the major rating categories.

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