Intermediated insurer Vero has signed a four-year sponsorship deal with the Brisbane Lions AFL club.

The agreement sees Vero replace the Bank of Queensland as the club’s major co-sponsor, appearing on the guernsey, stadium signs and media and marketing material until 2016.

A sum for the deal was not disclosed but based on similar announcements, insuranceNEWS.com.au believes it could be worth more than $1 million a year.

Suncorp Commercial Insurance CEO Anthony Day says the deal will give Vero greater brand recognition and is “part of a strategy to focus on both brokers and end customers”.

“This is a significant partnership for Vero, providing the brand with widespread national public exposure through association with the most popular and fastest-growing sport in Australia.”

Vero joined the Lions last year as a naming rights partner, with its first push into team sponsorship building the profile of parent Suncorp as one of Australia’s biggest spenders on sport. The insurer is also a sponsor of the Wallabies national rugby union team.

Suncorp stablemate AAMI has naming rights over stadiums in Melbourne and Adelaide, the AAMI Open tennis event and the Derby Day horse race in Melbourne.

Suncorp Stadium hosts rugby matches in Brisbane, while GIO is a major partner of the NSW state of origin rugby league team.