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New Zealand owned insurance company enters the market

New Zealand owned insurance company enters the market

A new insurance company enters the market next week. New Zealand owned Provident Insurance has been authorised by The Reserve Bank of New Zealand to underwrite Provident’s automotive-owner protection products.

Founded by motor industry finance and insurance specialists Steve Owens and John Copson, Provident Insurance will market in the motor finance and insurance sales industry. “We’ve drawn together decades of specialist experience to bring to market products that offer significant competitive advantage to our clients,” says Steve Owens, Provident Chief Executive Officer.

Owens says that Provident Insurance has a strategic advantage as a New Zealand owned and operated company. “This means that we’re answerable to our local board, rather than international directors which allows us to be responsive to the needs of the market and our clients.”

“New Zealand is known around the world for its start ups – while this is a new company, it’s backed by over 100 years of frontline experience and a board with significant expertise, who know the industry inside and out, and who want to deliver something fresh, and pure kiwi.”

Owens says that they recognise the importance of credibility and this is endorsed by the company’s B++Financial Strength rating from AM Best, the world’s largest and longest established specialist insurance company rating agency.

Provident Insurance Corporation Limited will offer a range of insurance products including Mechanical Breakdown Insurance, Credit Contract indemnity and Loan Equity Insurance. The company will also distribute Motor Vehicle Insurance under an agency agreement with Lumley Insurance.

For further information about this release please contact Steve Owens, CEO, Provident Insurance. s.owens@providentinsurance.co.nz

Provident Insurance Corporation’s head office is located at the Crown Centre, 67 Hurstmere Road, Takapuna, Auckland.

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