|        About Good Returns  |  Advertise  |  Contact Us  |  Terms & Conditions  |  RSS Feeds

NZ's Financial Adviser News Centre

GR Logo
Last Article Uploaded: Thursday, June 13th, 11:24AM


Latest Headlines

Fidelity completes TOWER buy

Fidelity Life has completed the purchase of the in-force life insurance business of Tower Health & Life and the group risk business of Tower Life for a total consideration of around $145 million.

Friday, August 2nd 2013, 8:08AM

The transaction makes Fidelity Life the largest New Zealand owned insurer and the third-largest life insurer in the country. Fidelity Life is privately owned, mostly through the interests of its founders Gordon and Shirley Watson, and also by its staff and management.

“As a fiercely proud Kiwi company we are always looking for ways to grow our share of the market and compete against the largely foreign-owned life insurance providers that operate in New Zealand,” chief executive Milton Jennings said.

“This deal gives us the scale and resources to deliver a much more compelling life insurance alternative to what the banks can provide.”

The transaction was first announced in May of this year and has taken just a few months to complete. Fidelity Life assumes responsibility for about 60,000 new insurance policyholders, which takes its in-force premium to around $200 million annually.

“Fidelity Life consistently rates in the top tier of New Zealand life insurers and remains one of New Zealand’s most recommended insurance brands by financial advisers,” Jennings said.

Fidelity Life has recently been awarded four stars in the Beaton Benchmarks survey which canvasses financial advisers on the products, service and support that local life insurers provide.

“The Beaton survey results clearly demonstrate our commitment to the financial adviser sector,” says Jennings. “This was highlighted in the many comments in the survey praising how easy we are to deal with and the quality of our support and claims processes.”

« [Opinion] Getting it off at the Playboy mansionWarren Buffett backs Partners Life »

Special Offers

Comments from our readers

No comments yet

Sign In to add your comment



Printable version  


Email to a friend
Insurance Briefs

New customers get 3-months' premium-free on Fidelity Life
Fidelity Life has announced a special offer to cover new customers’ premiums for the first 3-months of their policies.

Premium relief for customers in drought areas
Fidelity Life offers premium relief to drought-affected customers

Fidelity Life relaunches customer engagement initiative
Once again Fidelity Life wants to recognise advisers who go above and beyond to deliver amazing customer service.

Asteron Life unveils product enhancements
Asteron Life is proud to announce a series of enhancements and clarifications to multiple covers across Personal and Business Insurance product offerings, reflecting its commitment to understanding and meeting the evolving needs of customers, and making it a more seamless experience for advisers.

News Bites
Latest Comments
Subscribe Now

Cover Notes - Specific news aimed at risk advisers

Previous News
Most Commented On
About Us  |  Advertise  |  Contact Us  |  Terms & Conditions  |  Privacy Policy  |  RSS Feeds  |  Letters  |  Archive  |  Toolbox  |  Disclaimer
Site by Web Developer and