Sovereign Limited
Encyclopedia
Sovereign Limited is a financial services company that provides life and health insurance, home loans, investment and superannuation products in New Zealand and is part of the ASB Group
of companies.
In 1998 Sovereign was acquired by the ASB Group
which is owned by the Commonwealth Bank.
In 2000 the Commonwealth Bank merged with Colonial Limited, the Colonial New Zealand Life and Investment business was integrated into Sovereign which made Sovereign the largest Life Insurer in New Zealand.
ASB Bank
ASB is a New Zealand bank owned by the Commonwealth Bank of Australia, which is listed on the Australian Stock Exchange. It is one of the largest New Zealand banks, with branches throughout the country. It operates BankDirect, a branchless banking service that provides service via phone, Internet,...
of companies.
History
Sovereign started in 1989 as a life insurance and investment provider and expanded in 1996 with their acquisition of Metropolitan Life.In 1998 Sovereign was acquired by the ASB Group
ASB Bank
ASB is a New Zealand bank owned by the Commonwealth Bank of Australia, which is listed on the Australian Stock Exchange. It is one of the largest New Zealand banks, with branches throughout the country. It operates BankDirect, a branchless banking service that provides service via phone, Internet,...
which is owned by the Commonwealth Bank.
In 2000 the Commonwealth Bank merged with Colonial Limited, the Colonial New Zealand Life and Investment business was integrated into Sovereign which made Sovereign the largest Life Insurer in New Zealand.