Suncorp has declined to confirm reports it is reviewing its majority stake in Melbourne-based crash repairer Capital Smart.

The Australian Financial Review last week said the insurer is considering a number of options, including a sale.

“We continually review our business portfolio to maximise value for all our stakeholders,” a Suncorp spokesman told insuranceNEWS.com.au.

“It is business as usual for Capital Smart. The relationship between Capital Smart and Suncorp has never been stronger and will continue to grow into the future.”

Articles about the proposed sale of a company’s assets are often provided to the Australian Financial Review to informally test market interest.

Capital Smart – the name stands for “small-medium accident repair technology” – is grouped under the Suncorp Insurance Ventures division, which invests in industry repairers.

The repairer has a national network of workshops that repair more than 145,000 vehicles a year.