Core status within the Suncorp-Metway group Strong business position in the Australian non-life insurance market Solid earnings profile Strong capital position Strong competition in the Australian non-life insurance market Integration challenges faced by the Suncorp-Metway group The 'A+' rating on Vero Insurance Ltd. (VIL) reflects the insurer's core status within the Suncorp-Metway Ltd. (Suncorp Bank; A+/Positive/A-1) group of companies. The non-life operations form a key part of the broader Suncorp-Metway group, which has a strong market position in the Australian non-life insurance segment following the acquisition of Promina Group Ltd. (Promina; A/Positive/--) in March 2007. The rating on VIL also reflects the combined strength of the operating companies of the Suncorp-Metway group. VIL and other operating companies of the Suncorp-Metway
