R&SA changes name ahead of float

TheRoyal & SunAllianceGroup’s Australasian arm has been renamed Promina in preparation for its upcoming float.

The name change forms part of a new brand identity launched to separate the Australian and New Zealand entity from its UK parent.

“The new brand name and identity are designed to reflect our strategy to pursue depth in niche segments of the insurance and financial services markets, as well as developing our core businesses,” Promina managing director and chief executive officer Michael Wilkins says says.

The announcement late last year that the group’s UK parent company would cut ties with the business through a public float followed several failed attempts to sell the Australian and New Zealand operation.

The subsequent restructure also saw a number of executives leave the company, including general manager for sales and marketing Ken Brewer, New Zealand chief executive Alan Bradley, finance director for New Zealand Ivan Hoshek and human resources director for New Zealand Warwick Harvey.

YesterdayNorwich Union Navigatoralso announced it has changed its name to Navigator Australia.

WhileNorwich Union Australiachief executive officer Rob Garnsworthy says the change would not affect the public face of Navigator, the name change represents the first step in rebranding necessitated by the UK parent company’s name change from CGNU to Aviva last year.