Business Services Industry
Suncorp move saves $30m on IT costs.
Australasian Business Intelligence, August, 2002
Aug 06, 2002 (The Australian Financial Review
ABIX via COMTEX) -- Suncorp-Metway reports that its acquisition of the GIO general insurance business in 2001 has saved it $A30m in IT costs. The company paid $A1.4 billion to AMP for the company, which it forecasts will produce cost reduction and increased revenue totalling $A240m. Over $A50m of this amount is expected to be generated by IT savings. The assimilation of GIO involved the transfer of 80 server computers from Sydney and Melbourne to Brisbane. Under AMP, GIO had its computer operations outsourced, but these have now returned to an in-house structure.
Publication Date: 7 August 2002
SUNCORP-METWAY LIMITED - ASX SUN: GIO AUSTRALIA HOLDINGS LIMITED: AMP LIMITED - ASX AMP: WESTPAC BANKING...
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