Life Insurance
After self-reporting, Quest Insurance Group cops RBNZ warning for failing to maintain its minimum non-life solvency margin and statutory fund for its life insurance business
12th Nov 24, 12:35pm
After self-reporting, Quest Insurance Group cops RBNZ warning for failing to maintain its minimum non-life solvency margin and statutory fund for its life insurance business
Cancer dominates AIA Insurance claims accounting for a third of total insurance payouts in 2023, with breast and skin cancers representing over half of cancer claims
25th Jul 24, 5:00am
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Cancer dominates AIA Insurance claims accounting for a third of total insurance payouts in 2023, with breast and skin cancers representing over half of cancer claims
Overseas Investment Office eyes decision on the NZ$410 million sale of Suncorp’s Asteron Life to Resolution Life by early July
4th Jun 24, 9:28am
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Overseas Investment Office eyes decision on the NZ$410 million sale of Suncorp’s Asteron Life to Resolution Life by early July
Suncorp offloads life insurance arm Asteron Life for NZ$410 million, sale to see Suncorp NZ focus exclusively on general insurance
4th Apr 24, 11:34am
Suncorp offloads life insurance arm Asteron Life for NZ$410 million, sale to see Suncorp NZ focus exclusively on general insurance
Commerce Commission finds mortgage advisors face a conflict of interest because they are incentivised to recommend a lender who pays them the best commissions, even if that lender is not the best fit for the borrower
4th Apr 24, 7:28am
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Commerce Commission finds mortgage advisors face a conflict of interest because they are incentivised to recommend a lender who pays them the best commissions, even if that lender is not the best fit for the borrower
[updated]
Five life insurers participating in first RBNZ stress test of their sector all able to remain solvent
8th Aug 23, 12:49pm
Five life insurers participating in first RBNZ stress test of their sector all able to remain solvent
How Quashed wants to make insurance easy for New Zealanders. And cheaper.
Investment losses push insurers' profit down despite increase in gross earned premiums
30th Mar 23, 7:50am
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Investment losses push insurers' profit down despite increase in gross earned premiums
Speculation on potential sale of its life insurer Asteron Life comes from 'gossip column' in AFR, Suncorp NZ says
9th Feb 23, 1:07pm
Speculation on potential sale of its life insurer Asteron Life comes from 'gossip column' in AFR, Suncorp NZ says
FMA's Clare Bolingford says the 491 issues reported by banks & life insurers resulting in $152m of customer remediation unlikely to have been reported if the regulator hadn't asked
7th Oct 22, 9:23am
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FMA's Clare Bolingford says the 491 issues reported by banks & life insurers resulting in $152m of customer remediation unlikely to have been reported if the regulator hadn't asked
[updated]
FMA highlights the reporting of hundreds of conduct & culture issues from life insurers resulting in tens of millions of dollars of customer remediation
21st Sep 22, 3:30pm
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FMA highlights the reporting of hundreds of conduct & culture issues from life insurers resulting in tens of millions of dollars of customer remediation
FMA's Clare Bolingford on how and why NZ is getting a conduct regime overseeing financial institutions
19th Sep 22, 10:49am
FMA's Clare Bolingford on how and why NZ is getting a conduct regime overseeing financial institutions
The FMA's Clare Bolingford outlines why and how New Zealand is getting a conduct regime overseeing financial institutions, and what it means for customers
18th Sep 22, 6:00am
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The FMA's Clare Bolingford outlines why and how New Zealand is getting a conduct regime overseeing financial institutions, and what it means for customers
ANZ NZ Chief Financial Officer Stewart Taylor leaving to become CFO of Partners Life
21st Mar 22, 10:18am
ANZ NZ Chief Financial Officer Stewart Taylor leaving to become CFO of Partners Life
Life insurance covers up 92k during 2021 as Covid-19 issues reminder things can go wrong & more employers take out group insurance to stave off the 'great resignation'
5th Mar 22, 9:13am
Life insurance covers up 92k during 2021 as Covid-19 issues reminder things can go wrong & more employers take out group insurance to stave off the 'great resignation'
Kiwi Insurance, sister company of Kiwibank, is sold to NIB for $45 million
New Zealand life insurers set to continue delivering good return on equity to their shareholders, S&P Global Ratings says
9th Aug 21, 10:15am
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New Zealand life insurers set to continue delivering good return on equity to their shareholders, S&P Global Ratings says
Financial Markets Authority says life insurer AIA has admitted making false and/or misleading representations to customers and faces a paying a penalty of $700,000
29th Jul 21, 12:11pm
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Financial Markets Authority says life insurer AIA has admitted making false and/or misleading representations to customers and faces a paying a penalty of $700,000
Fidelity Life buying Westpac Life NZ in $400 million deal with the help of Ngāi Tahu Holdings
6th Jul 21, 10:49am
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Fidelity Life buying Westpac Life NZ in $400 million deal with the help of Ngāi Tahu Holdings
BNZ's parent National Australia Bank agrees to sell BNZ Life to Partners Life for NZ$290 million
16th Dec 20, 5:18pm
1
BNZ's parent National Australia Bank agrees to sell BNZ Life to Partners Life for NZ$290 million
FMA's inability to have a say in the AMP Life sale prompts a push for a law change requiring it, as the conduct regulator, to be consulted on mergers/acquisitions
2nd Jul 20, 2:00pm
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FMA's inability to have a say in the AMP Life sale prompts a push for a law change requiring it, as the conduct regulator, to be consulted on mergers/acquisitions
Concerns raised over the RBNZ approving the sale of 200,000 AMP Life insurance policies to a Bermuda-based private equity firm
24th Jun 20, 5:00am
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Concerns raised over the RBNZ approving the sale of 200,000 AMP Life insurance policies to a Bermuda-based private equity firm
RBNZ signs off on sale of AMP Life after the would-be buyer agreed to put in place various measures to protect the 200,000 New Zealand policyholders
23rd Jun 20, 10:11am
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RBNZ signs off on sale of AMP Life after the would-be buyer agreed to put in place various measures to protect the 200,000 New Zealand policyholders
RBNZ under pressure to protect AMP Life's 200,000 policyholders, as it considers a A$3b proposal from a Bermuda-based firm to buy the policies, and a Bill to regulate insurers' conduct goes through Parliament
24th Feb 20, 4:49pm
8
RBNZ under pressure to protect AMP Life's 200,000 policyholders, as it considers a A$3b proposal from a Bermuda-based firm to buy the policies, and a Bill to regulate insurers' conduct goes through Parliament
RBNZ review finds the life insurance industry is inefficient, suffers from high and soft commissions, generates high returns for shareholders, and has low solvency ratios
22nd Jan 20, 5:27pm
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RBNZ review finds the life insurance industry is inefficient, suffers from high and soft commissions, generates high returns for shareholders, and has low solvency ratios