Insured Group, which took over the Lombard Group last year, has been suspended from trading on the New Zealand Stock Exchange for not filing its annual report.

Insured made a back-door takeover of Lombard in March 2010 but NZX said it could no longer trade.

"Further to the announcement on 3 October, Insured Group has still not provided NZX with an audited annual report for the period ending 30 June 2011, which under Listing Rule 10.5.1, was due to be issued to NZX on 30 September 2011," NZX announced this morning.

"The five business day period has now expired and trading in Insured Group will be suspended effective immediately."

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In February, the Securities Commission said it had begun proceedings against Insured, a Perth-based insurance company, for alleged continuous disclosure breaches relating to Lombard in 2008.

The allegations relate to its subsidiary Lombard Finance.