Insurance news

30 May 18, 11:53am
NZ life insurance market consolidates as ANZ agrees to sell OnePath Life to Cigna for $700 million; Sale to see Cigna become NZ's third largest life insurer
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30 May 18, 9:15am
Reserve Bank says financial risks have lessened but will not be loosening LVR restrictions at this stage; will wait till November 'at least' before any loosening
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29 May 18, 12:56pm
Tower widens half-year loss off the back of storms and disappointing settlement with reinsurer; Risk-based pricing gets underway
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28 May 18, 1:49pm
Economists doubt the Reserve Bank will want to further roll back mortgage lending restrictions this week and will prefer to wait longer to see how the housing market develops this year
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25 May 18, 2:59pm
Insurers renew their calls for immediate action on climate change adaptation as the cost of more frequent extreme weather events stack up
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24 May 18, 12:46pm
FMA and RBNZ give life insurance companies until June 22 to prove they aren't mimicking the misconduct of some of their Australian parents
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22 May 18, 11:39am
Commerce and Consumer Affairs Minister Kris Faafoi seeks feedback on insurance law revamp that aims to regulate insurers' conduct and better protect consumers who risk having their claims declined due to non-disclosure
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18 May 18, 7:20am
FMA believes companies should keep updating the market even if they're in voluntary administration; Says its dealings with CBL have prompted it to ask the court for clarity on the matter
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18 May 18, 7:12am
Insurers back Government's move to spend $8 million on tribunal to help settle the thousands of outstanding Canterbury earthquake claims
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17 May 18, 10:59am
Commerce and Consumer Affairs Minister Kris Faafoi disappointed life and health insurers spent $34m on soft commissions in two years, but won't commit to banning them
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16 May 18, 3:00pm
Life and health insurers spend 9% of their sales revenue on soft commissions for the advisers who sell their products; FMA warns of conflicts of interest
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15 May 18, 4:10pm
Any NZ inquiry into the conduct of the financial services sector will require a lengthy and deep probe into the insurance sector, Gareth Vaughan argues
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15 May 18, 1:05pm
Michael Wood, the Chairman of Parliament's Finance and Expenditure Select Committee, says summoning bank CEOs to appear before MPs is an ‘open and live option’  
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11 May 18, 5:00am
Schemes that deal with complaints people make about their financial service providers urge the Government not to go too far in making them report all the misconduct they see to regulators 
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10 May 18, 4:02pm
The New Zealand Shareholders' Association calls for CBL Corporation to be liquidated and the FMA to exercise its powers to act on behalf of investors
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9 May 18, 4:03pm
Questions raised over NZ's financial services consumer dispute resolution model with the four competing schemes incentivised to sell themselves to the industry
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3 May 18, 2:10pm
Banks' attempts to be more customer-centric by changing the way they incentivise staff slammed by union for being superficial; FMA optimistic about impact of financial advice and insurance contracts law changes 
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3 May 18, 10:01am
Gareth Vaughan probes the FMA & RBNZ's demand for NZ banks to prove they're better behaved than their Aussie parents & concludes the argument for a Royal Commission doesn't stake up at this point
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2 May 18, 7:39am
FMA's CEO Rob Everett & RBNZ Governor Adrian Orr tell NZ's big bank CEOs to prove their banks are different to their Aussie parents
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30 Apr 18, 9:33am
ANZ and IBM release proof of concept for blockchain product aimed at reducing the to-ing and fro-ing between insurers and brokers; Suncorp involved in testing technology
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