Promina and Suncorp have delivered their submission over their proposed $7.9 billion merger to the Australian Competition and Consumer Commission (ACCC).

Under the ACCC timetable, a deadline for submissions from interested parties has been set at November 13, and a final decision on whether a merger will be allowed is due on December 20.

It remains to be seen whether the submission will allay competition concerns. It has been speculated that the concentration of business in Queensland compulsory third party insurance and the NSW motor insurance market will pose problems for the regulator.

The proposed merger between Promina and Suncorp will create a $20 billion diversified financial services company.

It’s been confirmed by Promina that Vero CEO Duncan West will stay on in any new organisation resulting from the merger. Suncorp has been working behind to scenes to ensure it retains top Promina executives like Mr West.

Mr West was to become CFO of Promina in January, replacing the retiring Harold Bentley. A spokesman says Mr Bentley will now stay in the position after that date if the Suncorp deal goes ahead.

Meanwhile, it’s business as usual for Suncorp CEO John Mulcahy and Promina CEO Mike Wilkins. On Thursday they will join other industry leaders at the annual Concord Forum lunch with Federal Treasurer Peter Costello in Melbourne, and will also attend an ICA board meeting.