Cigna and OnePath now one
Cigna has successfully combined its OnePath and Cigna New Zealand businesses.
Monday, February 3rd 2020, 9:29AM
The transfer of the OnePath business to Cigna was completed on January 31, after Reserve Bank approval.
The combined business now operates as Cigna Life Insurance New Zealand Limited (Cigna), which is part of Cigna Corporation.
Cigna has been working to combine the two businesses since November 2018 when it completed the purchase of OnePath from ANZ New Zealand. With its New Zealand businesses now combined, Cigna has also brought the two together under one brand and re-launched its website to reflect its extended product and service offering.
Chief executive Gail Costa said: “We’re proud to have completed the final phase of the acquisition so quickly and are thrilled to welcome all OnePath customers to Cigna. This is a huge milestone for our business, we now have a solid foundation for growth, and a platform to continue looking after the 450,000 customers we protect.
"All policy holders have been notified of these changes and we look forward to continuing to look out for our customers with insurance products that best meet their individual needs.”
She said the insurer could have spent two or three years going through the integration and amalgamation process. "We thought let's just go for it so then we'll be out the other side. I'm glad we did."
She said it had been a big year for Cigna. Advisers had said they liked the fact that it was effectively a new company, with global reach.
"We've kicked off now, we're ready to come to market as one company."
Products would be refreshed, she said, with updated policies, pricing and documentation. A new quote tool would also be available.
Advisers were showing strong support for Cigna, she said, with more interest and new business coming in. Costa said that was significant, given that Cigna had not been aggressively promoting itself in the market.
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