About Good Returns  |  Advertise  |  Contact Us  |  Terms & Conditions  |  RSS Feeds Other Sites:   depositrates.co.nz  |   landlords.co.nz
Last Article Uploaded: Saturday, September 20th, 8:06AM
rss
Latest Headlines

Hellaby backs Club Life

Club Life gets ready for business by signing up a financial backer and engaging reinsurers.

Friday, April 6th 2001, 8:28AM

by Philip Macalister

Listed company Hellaby Holdings has confirmed it will be the key backer for Club Life, taking a 72% stake in the business for $4 million.

Club Life is planning to launch in June with a capital base of $5.5 million. The balance of the capital will come from Club Life management and associated parties.

The company is planning raise $1 million by offering shares to supporting brokers.

It is envisaged the company would list within 5 years.

The other major development with Club Life is that it would use German-based reinsurers Gerling Global and Munich.

Hellaby Holdings general manager David Houldsworth says that after doing extensive market research and due diligence Hellaby was convinced that the consolidation of the life assurance market over recent years has created a significant opportunity for a new New Zealand owned, customer focused life assurance company.

"In our view, this is an opportunity that Club Life is well positioned to realise." he says.

Club Life chairman Peter Fitzsimmons says that Club Life's launch "is without doubt one of the most important developments within the industry over the past decade."

"In terms of choice the industry has rationalised itself to a standstill. In Club Life we have a new David to take on the Goliaths" he said.

Club Life chief executive Naomi Ballantyne believes Hellaby’s decision to invest after a thorough analysis of the industry, confirms her belief that the Club Life model will meet the needs of advisers and their customers.

"Club Life will operate in partnership with leading advisers and brokers to provide a unique standard of products and service. This is where our focus lies." she says.

Hellaby's other investments include Hannahs footwear, Levana textiles and Total Metering.

You can read Philip's blog here: http://www.goodreturns.co.nz/blog/

« Tax incentives promotedCommission has another go at Southern Cross »

Special Offers

Commenting is closed

 

print

Printable version  

print

Email to a friend
Strategy Thoughts

Tip from the top

Fidelity Income Protection
Changes to the wording make it easier to issue policies, but advisers should be careful about proof of income.

News Bites
Latest Comments
  • Bank advice concerns questioned
    “@Dr. Taylor. Dave Mason from BNZ here. BNZ has no restrictions on produce being on house as we do not manufacture. We prefer...”
    23 hours ago by Bankadviser
  • Bank advice concerns questioned
    “Just out of interest Mike - where would you suggest they go and work? Presumably just not in QFEs? In any capacity? It's...”
    2 days ago by interested observer
  • Bank advice concerns questioned
    “Just out of interest Mike - where would you suggest they go and work? Presumably just not in QFEs? In any capacity? It's...”
    2 days ago by interested observer
  • Bank advice concerns questioned
    “Hi Mike, I think you are sharply understating the risks here of FMA directors and staff ultimately working for the banks...”
    2 days ago by Brent Sheather
  • Action needed on DIMS
    “Perhaps rather than reminding AFAs to get their house in order, the FMA would be better off spending that time finalising...”
    2 days ago by MPT Heretic
Subscribe Now

Cover Notes - Specific news aimed at risk advisers

Previous News

MORE NEWS»

Most Commented On
About Us  |  Advertise  |  Contact Us  |  Terms & Conditions  |  Privacy Policy  |  RSS Feeds  |  Letters  |  Archive  |  Toolbox
 
Site by PHP Developer and eyelovedesign.com