CORRECT: Nib to buy OnePath Life's medical business for $24.7 mln, extending New Zealand reach

Thu, 15 Oct 2015

(Fixes headline, lede, and 5th graph to show purchase of medical insurance unit, updates shares in last graph) By Paul McBeth Oct. 15 (BusinessDesk) - Nib Holdings, the ASX-listed insurer which bought Tower's medical insurance unit in 2013, has extended its reach into the local market after agreeing to buy OnePath Life (NZ)'s medical business for $24.7 million from Australia & New Zealand Banking Group. The deal, which is subject to regulatory approvals from the Reserve Bank, is expected to be finalised in December, and will be funded...

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