Final hurdle passed for OnePath deal
The final regulatory approval has been granted from the Reserve Bank and the Overseas Investment Office for Cigna's acquisition of ANZ’s OnePath Insurance business.
Wednesday, October 31st 2018, 8:37PM
Earlier this year Cigna entered into negotiations with ANZ to purchase OnePath. Once completed. This acquisition will make Cigna New Zealand’s third largest life insurance provider.
This year will see Cigna celebrate its 100th year of operation. Cigna has a long history in the New Zealand market as a strong and sustainable business that customers can trust.
Gail Costa, Cigna New Zealand chief executive, said: “we’re really pleased to have reached this important milestone on the journey. This is an exciting time for both organisations as we work towards bringing the companies together.”
The sale is expected to be completed by early 2019.
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