The AA and Suncorp have reached a new agreement to explore how both organisations can expand their financial service offerings.

AA chief executive Brian Gibbons said it had always been the AA’s aspiration to look at how it might offer a broader range of financial services beyond car loans to New Zealanders, and this new partnership afforded that opportunity.

Suncorp already has insurance joint ventures with AA.

Suncorp New Zealand is part of Suncorp, a  general insurance, banking, life insurance and superannuation business with brands in Australia and New Zealand.

Called AA Finance, the joint venture will launch later this year, offering loans for cars, motorbikes and boats.

The objective of the joint venture will be to provide affordable finance for all Kiwis, with AA Members the primary beneficiary.

"The partnership is based off the back of an existing relationship the AA has with Suncorp New Zealand, jointly providing general and life insurance through AA Insurance and AA Life. The success of the partnership has encouraged both organisations to look beyond those insurance products to the financial services sector," Gibbons said.

Suncorp New Zealand chief executive Paul Smeaton said he was excited about the new partnership.

"I couldn’t think of a better partner than the AA to launch this offering to New Zealanders, given Suncorp's longstanding relationship with the AA.”

Gibbons and Smeaton said they saw it as a step up in terms of their commitment to New Zealand, and a further strengthening of the two organisations’ partnership.