Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


Major milestones achieved by fast-growing life insurer

Major milestones achieved by fast-growing New Zealand-owned life insurer


Partners Life, New Zealand’s fastest growing life insurer, has achieved a further two major milestones recently with a significantly oversubscribed capital raising and the accumulation of $100m in in-force annual premiums.

“It is just over three years since we opened for business and, in a market dominated by well-resourced and long-established foreign-owned life companies, we have created a very substantial and competitive New Zealand company,” says Partners Life Managing Director Naomi Ballantyne.

“The record of our management team in the industry and the quality of our products and service has seen us win and sustain strong support from independent advisers. Add to that the high level of under-insurance in the New Zealand market and it is clear that there are plenty of opportunities for sustained growth.”

The capital raising attracted such strong interest that the amount raised of $31.6m, was well in excess of the target minimum of $20m.


“Investors have been attracted to the combination of our experienced leadership team, our proven track record of sustained growth, and the market potential available to us.”

The funds raised further strengthen Partners Life’s capital position. They will be used to support continued business growth through the provision of exceptional consumer product and service offerings.

ends

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Scoop Business: RBNZ Starts Talks On Tougher Rules For Property Speculators

The Reserve Bank of New Zealand is stepping up preparations to restrict lending to residential property investors as it watches house prices, particularly in Auckland, continue to rise strongly. More>>

ALSO:

Research: ‘Ageing Well’ Science Challenge Launched

Science and Innovation Minister Steven Joyce today launched the Ageing Well National Science Challenge, confirming initial funding of $14.6 million. More>>

ALSO:

Scoop Business: Govt Resisting Pressure To Pump More Cash Into Solid Energy

Prime Minister John Key says it is “not the government’s preferred option” to make a fresh capital injection into the troubled state-owned coal miner, Solid Energy, but dodged journalists’ questions at his weekly press conference on whether that might prove necessary... More>>

ALSO:

Lagest Ever Privacy Breach Award: NZCU Baywide Accepts “Severe” Censure In Cake Case

NZCU Baywide says that once it was found to have committed a breach of a former staff member’s privacy, it had attempted to resolve the matter... the censure and remedies for its actions taken almost three years ago are “severe” but accepted, and will hopefully draw a line under the matter. More>>

ALSO:

Scoop Business: PayPal Stops Processing Mega Payments; NZX Listing Still On

PayPal has ceased processing payments for Mega, the file storage and encryption firm looking to join the New Zealand stock market via a reverse listing of TRS Investments, amid claims it is not a legitimate cloud storage service. More>>

ALSO:

Housing Policy: Auckland Densification As Popular As Ebola, English Says

Finance Minister Bill English said calls by the Reserve Bank Governor for more densification in Auckland’s housing were “about as popular in parts of Auckland as Ebola” would be. More>>

ALSO:

Get More From Scoop

 
 
Standards New Zealand

Standards New Zealand
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news