Trying to establish its presence in the direct sales and financial advice markets, Suncorp-Metway aims to more than double its new life insurance business in the coming three years.

The company's CEO Geoff Summerhayes said Suncorp is using its Asteron brand to expand in the independent financial adviser market. Asteron's being independent of the big four banks gave it a better position among independent financial advisers, he said.

The Brisbane-based company had also started direct distribution by selling life insurance products through the Suncorp, GIO and APIA general insurance brands.

"Our strategy is clear," Mr Summerhayes said yesterday. "We are on track and have made excellent progress."

Mr Summerhayes claimed the life insurance market had exceptional potential. Growing the life insurance division is one of the company's ways to invigorate Suncorp as a multi-brand financial services provider with banking, general insurance, wealth management and life insurance operations.

The business aimed to augment the current $8.1 billion in-force premium by double digits over the next three years while cutting expenditures, the chief executive said. The company also plans to streamline the disability claims process to make the experience better.

Operating in Australia and New Zealand, Suncorp has five divisions managing various brands supported by corporate and shared services divisions. It is a Top 25 ASX-listed business with more than $95 billion in assets. On Suncorp's website, the company says that it has over 16,000 employees and relationships with about seven million customers.