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ANZ to sell New Zealand medical insurance business
ANZ to sell New Zealand medical insurance business
ANZ today announced it has agreed to sell its New
Zealand OnePath Life medical insurance book to nib NZ
Limited.
OnePath Life currently has approximately 20,000 medical insurance policies covering 44,000 people. There will be no change to existing policies and nib will honour all current terms and conditions.
ANZ Wealth New Zealand Managing Director John Body said: “Medical insurance is a specialist business and this sale will enable us to focus on our core life insurance business with minimal impact on existing policy holders.”
The transaction is not material to ANZ and is subject to regulatory approval.
ends
ANZ Bank New Zealand Limited
Get on top of your money
ANZ has been helping New Zealanders get on top of their money ever since we opened for business in 1840. We were New Zealand's first bank and today we have a large network of full-service branches and ATMs, and talented people across the country.
We're passionate about helping our customers make their money work harder and equipping them to make better financial decisions. Whether it's travelling the world, buying a home, building a business, investing for the future or protecting their family's future, we use our financial strength and expertise to help make it happen.
Through our sponsorships, our Staff Foundation and thousands of staff volunteer hours each year, we support causes that make a difference to New Zealanders.
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