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AIA rejoins FSC

The Financial Services Council has announced that insurer AIA has rejoined its ranks.

Thursday, June 8th 2017, 6:02PM

Richard Klipin, chief executive of FSC

It was one of a number of members that quit in the aftermath of the MJW report, which was critical of life insurance commissions.

But chief executive Richard Klipin said AIA had signed on as a member, taking the total number to 16, with 14 associate members.

"We are pleased to welcome back AIA to the Financial Services Council. The Industry is going through rapid change and AIA is an important part of the New Zealand life insurance landscape."

He said, with the inclusion of AIA, the FSC represented more than 95% of the life insurance market in New Zealand.

Kristy Redfern, newly-appointed general manager of corporate services and general counsel of AIA New Zealand said, "AIA is passionate about re-joining the FSC at this time when the organisation has demonstrated a strong start delivering the refreshed strategic direction and focus. We feel that now is the time to step forward and play a key part in making a difference as an industry."

Tags: AIA FSC

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