The AA, a current car loan finance provider, is pleased to announce a new partnership with Suncorp New Zealand to jointly explore how both organisations can expand financial service offerings.
AA CEO Brian Gibbons said it's always been the AA's aspiration to look at how it might offer a broader range of financial services beyond car loans to New Zealanders and this new partnership affords that ability.
Suncorp New Zealand is part of Suncorp, a leading general insurance, banking, life insurance and superannuation business with brands in Australia and New Zealand.
Called AA Finance, the joint venture will launch later this year, offering loans for cars, motorbikes and boats.
The objective of the joint venture will be toprovide affordable finance for all Kiwis, with AA Members the primary beneficiary.
"The partnership is based off the back of an existing relationship the AA has with Suncorp New Zealand, jointly providing general and life insurance through AA Insurance and AA Life. The success of the partnership has encouraged both organisations to look beyond those insurance products to the financial services sector," Brian said.
Suncorp New Zealand CEO, Paul Smeaton, said he was excited about the new partnership.
"I couldn't think of a better partner than the AA to launch this offering to New Zealanders, given Suncorp's longstanding relationship with the AA," said Mr Smeaton.
Both CEOs, Brian Gibbons and Paul Smeaton see this as a step up in terms of their commitment to New Zealand, and a further strengthening of the two organisations' partnership.