Kiwi Group sells life insurance business to nib for $45m

Mon, 08 Nov 2021

Kiwi Group Holdings, the parent of Kiwibank, is selling its life insurance business to nib nz holdings for $45 million.As part of the deal, nib will enter into an exclusive relationship with Kiwibank with the bank referring its retail customers to nib for their insurance needs.The sale is subject to regulatory approvals.Kiwibank chief executive Steve Jurkovich said the sale of Kiwi Insurance delivers on Kiwibank's growth strategy by simplifying its business."Life insurance plays a vital role in providing financial security from the une...

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