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Sovereign website to shed light on regulation


MEDIA RELEASE

FOR IMMEDIATE RELEASE

Sovereign launches website to shed light on regulation

Auckland, 17 December 2009; New Zealand’s largest life-insurance provider, Sovereign, has recently launched a new website, ‘Sovereign Insider’, aimed at providing advisers with the facts around the impending life tax and industry regulation changes.

With the market buzzing with commentary about life tax and regulation of the industry, Sovereign has stepped in to provide advisers with the knowledge and skills to successfully negotiate the massive transition.

Sovereign Insider is backed by a dedicated team working solely on regulatory and tax issues. The initiative is designed to offer effective communication and education around these issues, and the implications for both advisers and consumers. With much concern and speculation circulating, Sovereign aims to provide a reliable, clear source of up-to-date information regarding regulation.

Sovereign considers the Government’s regulation plans to be an overwhelmingly positive step for the industry, which will help to raise standards across the board.

“This regulation is the most significant change to happen to our industry in over twenty years,” says David Drillien, Sovereign Acting Head of Marketing & Product.

“And quite simply, anything that is good for the consumer is good for the industry. In addition, the new regulation will finally recognise the overwhelming majority of advisers who have – and will continue to – operate professionally in terms of offering advice to consumers.”

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Sovereign sees communication as being key to the successful integration and appreciation of regulatory changes. Advocates who have visited the Insider site have congratulated Sovereign on the new website.

“It looks like a huge body of work and it’s fantastic that Sovereign have taken a leadership position...it is a time when the industry needs clarity and a stable source of information.”

“This is an outstanding resource, thank you!” The site will be updated weekly as new information around life tax and regulatory changes are made available.

-Ends-

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