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Last of Tower’s life book sold

Tower has done a u-turn and sold its remaining life business, to Foundation Life in a deal worth $36 million.

Tuesday, July 1st, 11:31AM

The book, numbering 50,000 policies, is made up of annuities, unit linked policies, whole-of-life policies book and a small amount of traditional non-participating term insurance.

The buyer, Foundation Life is a private company that is focused on the acquisition and long term prudential management of life insurance portfolios which are no longer being actively marketed.

In Januray Tower advised the NZX it s would retain the business "following an evaluation of options for divesting (it)...MORE»

Three ways to look at the latest trauma products

Monday, June 30th, 6:33PM

Russell Hutchinson looks at the emergence of severity-based trauma cover and offers some ideas for advisers about how to use these products.

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KiwiSaver-style scheme for health insurance suggested

Thursday, June 26th, 7:32AM

Accuro's chairman, Jane Bawden, says the government should develop a KiwiSaver-style scheme for health insurance.

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Sovereign to pay $82m

Wednesday, June 18th, 6:00AM

Sovereign has lost its last bid to appeal a long-running dispute with Inland Revenue and must pay the department $82 million.

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What you actually said, versus what the client heard you say

Friday, June 13th, 6:00AM

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Complaints could be avoided: ISO

Thursday, June 12th, 6:00AM

Complaints about financial advisers are often caused by miscommunication and misunderstanding, the Insurance and Savings Ombudsman says.

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Accuro switches rating agencies

Friday, June 6th, 6:57AM

Health insurer Accuro has dumped Standard and Poors' as its rating agency and instead gone with AM Best.

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How good are NZ insurance products?

Wednesday, June 4th, 9:11AM

Just what does our insurance market look like compared to the rest of the world? Actually pretty darn good, but here is a comparison on a number of measures.

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Strategy Thoughts

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

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