I also have two policies with them.
Had a letter dated 3 June saying they are transferring my policies from their current insurer, being, ( Insurance Australia Ltd ) to ( Insurance Manufacturers Australia P/L ). Note the P/L.
This is, I guess, the underwriters of the policies, new or otherwise.
This is subject to A Federal Court decision, which they expect around July 31, 2025.
No other detail in the letter about a merger or a sale.
if you would like a copy of the letter, pm me your email, and I`ll send it through.
Another 2c worth.