Suncorp subsidiary Vero will hand its truck business over to its National Transport Insurance (NTI) joint venture with CGU.

The 50/50 joint venture became a nightmare for Vero this year, with CGU parent IAG believing it would take control of NTI when Vero was bought out by Suncorp. The dispute was resolved in August when the companies agreed to continue the partnership.

Vero spokesman Sue Repanellis told insuranceNEWS.com.au part of the deal was that the joint venture will assume responsibility for providing heavy vehicle insurance on behalf of Vero.

“Vero will transition some of its heavy vehicle policies to NTI,” she said. “Packages containing heavy vehicle and fleets with less than 50% heavy vehicles are excluded from this arrangement.”

As for the intricacies, Ms Repanelllis says it will still be some time before volumes of customers and any staff movements are known.