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AIA NZ dismisses Prudential sale rumours

AIA New Zealand has quashed rumours that it will be sold by Prudential if it takes over American International Group's (AIG's) AIA and says it has been told by head office to put growth strategies in place.

Tuesday, March 30th 2010, 5:43PM 1 Comment

by Jenha White

Sources directly involved in the Prudential $35.5 billion purchase of AIA told Reuters that Prudential may quit some countries in Asia including Australia, New Zealand, South Korea and Taiwan due to low market share.

AIA New Zealand director of national sales Andries Van Graan says there is nothing whatsoever confirming those claims.

"We have actually been told by head office in Hong Kong to put strategies in place for growth and the new products we launched at the road show last week were part of that.

"We are looking through processes at the moment to come up with a future strategy."

He says competitors will use any opportunity to unsettle advisers and it's not necessary.

"For us, it's business as usual and if there are any changes, we will be communicating that."

 

Jenha is a TPL staff reporter. jenha@tarawera.co.nz

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