Fidelity Life’s record profit result shows its acquisition of TOWER’s life insurance business has been a success, its chief executive says.
Fidelity Life posted an after-tax profit of $35.1 million in the 2014 year, more than twice 2013’s $17.1 million.
During the year, Fidelity bought TOWER’s health and life business and sold its KiwiSaver scheme to Grosvenor.
Chief executive Milton Jennings said he was very pleased with the result. “There’s always a fear when you acquire a company that it won’t achieve expectations but we’re very pleased with the result and how it has gone...MORE»
Monday, October 6th, 12:05PM
OnePath has decided to merge its two life insurance companies – one that services advisers and the other for bank-distributed product.MORE»
Tuesday, September 23rd, 6:00AM
Something as simple as a customer not completely understanding the insurance product they purchase can lead to a complaint, the Insurance and Savings Ombudsman says.MORE»
Advisers’ role in health insurance is likely to grow over the coming years, Southern Cross Health Society chief executive Peter Tynan says.MORE»
Newpark managing director Darren Gannon says the insurance sector needs to regulate itself before it’s too late.MORE»
The quick approach to price comparison on life insurance is both entirely understandable, and dumb.MORE»
AIA is increasing its standard commission rates and changing its clawback structure.MORE»
Partners Life is winding up its shadow share offer to advisers.MORE»