Fidelity to channel NZ Super Fund capital injection into innovation, future growth: CEO

Wed, 01 Nov 2017

By Rebecca Howard Nov. 1 (BusinessDesk) - Fidelity Life will use a $100 million capital injection from the New Zealand Superannuation Fund to help pay for future growth and new innovation, with a focus on the insurer's digital capability and platforms, says chief executive Nadine Tereora. The two companies yesterday announced the NZ Super Fund plans to take at least a 41.1 percent stake through a $75 million share issue at $115 apiece and the acquisition of at least $25 million of existing stock. The deal is subject to conditions includi...

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