History
Sovereign started out in 1989 as a life insurance and investment provider. The company expanded in 1996 with its acquisition of Metropolitan Life Assurance Company of N.Z. Limited.
In 1998 Sovereign was acquired by the ASB Group, which is owned by the CBA. When CBA merged with Colonial Limited in 2000, the Colonial New Zealand life and investment business was integrated with Sovereign, making it the largest life insurer in New Zealand.
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