AIA looks to hold on to NZ's largest group schme

The police life insurance scheme, currently offered by AIA, is put out for tender every six years.

A Police Association spokesman said the tender process would be finished by the end of March. He would not give any further details on the scheme or the tender process.

AIA chief executive Wayne Besant said his firm was going through the process as the incumbent. “We’ve had a relationship with the police for a long time.”

He said the police scheme was one of the most important employee benefit schemes in the country. “Not just because of the size of it but the people we’re providing cover for. They do a fantastic job in the community.”