About Good Returns  |  Advertise  |  Contact Us  |  Terms & Conditions  |  RSS Feeds Other Sites:   depositrates.co.nz  |   landlords.co.nz
Last Article Uploaded: Friday, February 5th, 5:30PM
rss
Latest Headlines

Club Life comes to life

New insurance company Club Life opened its doors for business this week.

Wednesday, July 4th 2001, 8:57PM

by Philip Macalister

New life insurance company Club Life kicked off its business earlier this week in a low-key fashion.

Chief executive Naomi Ballantyne says the company has signed up about 215 agency agreements with advisers and it has started processing the first of its applications.

Club Life is currently backed by listed investment company Hellaby Holdings and equity from its staff.

Ballantyne says advisers who write business for the company will be offered share options. Also, the company is looking to do an equity raising from brokers later in the year.

Promotional material says Hellaby owns 62% of the company while management staff and family interests hold 23% and the balance is owned by foundation financial advisers.

Club Life has launched a number of insurance products, plus it has some investment funds in its range.

The product range include Assurance Extra which is a range of five managed funds which can have life insurance added to it, and a term deposit bond.

It also offers traditional life cover including trauma, term life and disability income protection.

Top fund manager BT Funds Management is managing money for Club Life.

On the insurance side of the business 90% of the risks are being reinsured with Gerling Global Life Reinsurance of Australia and Munich Reinsurance Company of Australasia.

Club Life's philosophy is built around the concept of a club, whose members include the company, advisers (as shareholders) and customers.

Club Life says it will only work with selected advisers.

"Unlike many companies that choose to do business with the maximum number of financial advisers, Club Life have invited only a small number to join as members.

"Together we have set standards of entry that exclude all but the best."

It also says it will only deal with advisers and won't sell directly to the public.

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

« Something Just for KidsAXA ups commissions by 33% »

Special Offers

Commenting is closed

 

print

Printable version  

print

Email to a friend
Strategy Thoughts
News Bites
Latest Comments
  • Investors offered new way into equities
    “Whilst I'm a fan of disruptive technologies I also believe that you get what you pay for. It will be interesting to see the...”
    4 days ago by Pragmatic
  • Advisers told: Don't gamble on forex
    “As quoted by British Economist, Ronald Coase “Statistics, when tortured enough will confess to almost everything” Over...”
    7 days ago by Pragmatic
  • Southern Cross to fund preventative treatment
    “Interesting! so join up with Southern Cross, take the test for genetic mutation and collect your $50,000 for surgery (or...”
    12 days ago by Tash
  • OCR cuts to come – but not now
    “"NZIER senior economist Christina Leung believes the RBNZ will make no changes to the OCR until December 2017 when it will...”
    12 days ago by FreedomWatchNZ
  • Lifetime income rates a drawcard
    “Murray & Traveller - thank you. Yes, there is no need to maintain minimum balance of $100k subject to unplanned withdrawals...”
    16 days ago by Ralph Stewart
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 Web Developer and eyelovedesign.com