tmmonline.nz  |   landlords.co.nz        About Good Returns  |  Advertise  |  Contact Us  |  Terms & Conditions  |  RSS Feeds

NZ's Financial Adviser News Centre

GR Logo
Last Article Uploaded: Tuesday, March 31st, 9:03AM

Insurance

rss
Latest Headlines

ANZ keeping OnePath

ANZ New Zealand chief executive David Hisco says the bank is not looking to sell the OnePath life insurance business.

Friday, November 10th 2017, 11:06AM

Earlier the bank had announced it was looking at options for its ANZ Wealth business, which includes OnePath. This review covered the businesses in Australia and New Zealand.

However, Hisco says ANZ wasn't planning to sell OnePath in New Zealand.

The bank has been approached by companies about its New Zealand life insurance business; talked to various parties, but there is no decision to sell.

"Our New Zealand insurance business has strong fundamentals and we have clear plans to pursue future growth."

He said the New Zealand business was different to the Australian operations, and the local arm generates a good return for the bank.

As reported earlier ANZ in Australia has agreed to sell its Australian OnePath pensions, investments and aligned dealer groups business to IOOF in a deal worth A$975 million ($1.067 billion).

It would involve a 20-year strategic alliance to make available IOOF superannuation and investment products to ANZ customers.

The bank is, reportedly, still looking at options for the Australian life insurance business.

Tags: ANZ David Hisco IOOF OnePath

« Sovereign boost commissions; nib offers a new modelStop filling out forms for clients: IFSO »

Special Offers

Comments from our readers

No comments yet

Sign In to add your comment

 

print

Printable version  

print

Email to a friend
Insurance Briefs

MDRT plans virtual annual meeting
The MDRT's annual meeting, which attracts more than 10,000 delegates from around the world, will be a virtual event this year.

ANZIIF cancels insurance awards
The Australian and New Zealand Institute of Insurance and Finance (ANZIIF) has made the decision to cancel the 2020 Australian and New Zealand Insurance Industry Awards.

Partners Life supports rainbow community
Partners Life is again supporting the Rainbow Excellence Awards.

AIA receives Gender Tick accreditation
AIA New Zealand is the first insurer in New Zealand to be awarded the YWCA Gender Tick.

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
 
Site by Web Developer and eyelovedesign.com