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suncorp flicks asteron life for 410 million
Australian insurer Suncorp is selling its New Zealand life insurance business, Asteron Life, for $410 million to an international insurance group, Resolution Life. In a statement to the Australian sec
correct second fairfax nz senior manager jumps ship
(corrects order of departure of Campbell Mitchell and Simon Tong) By Pattrick Smellie March 21 (BusinessDesk) - Fairfax Media New Zealand has lost a second senior manager, with the company's chief ma
suncorp nz eyes wider margins from digital integration
Suncorp New Zealand wants to strip out costs and widen its margins by integrating its systems more closely with the broker network selling almost half its product. The general and life insurer’s loc
life insurance industry will need to be dragged kicking and screaming into reform
By Jenny Ruth Feb. 4 (BusinessDesk) - Financial Markets Authority chief executive Rob Everett was under-stating the case when he said the life insurance industry isn’t capable of making necessary ch
update suncorp builds 11 stake in tower pitches rival takeover bid
By Paul McBeth Feb. 22 (BusinessDesk) - ASX-listed insurer Suncorp Group has built an 11 percent stake in Tower and put forward a rival takeover offer for the NZX-listed general insurer. Suncorp, w
australias suncorp pays premium to build 1999 stake in tower
By Paul McBeth March 15 (BusinessDesk) - ASX-listed insurer Suncorp Group raised the stakes in its takeover tilt for NZX-listed general insurer Tower, paying an ever larger premium to build its stake.
tower board backs increased vero takeover
By Paul McBeth June 27 (BusinessDesk) - Tower's board is backing the increased takeover bid from Suncorp Group-owned Vero Insurance New Zealand, provided the $236 million offer wins approval from lo
wgtns habitual fix on featherston liquidated for a second time
By Sophie Boot Jan. 23 (BusinessDesk) - A second business operating Wellington's Habitual Fix on Featherston Street has been placed into liquidation in the space of a year, with the Beehive end of to
wgtns habitual fix on featherston liquidated after falling outside quake support package
By Sophie Boot Dec. 29 (BusinessDesk) - Wellington's Habitual Fix on Featherston Street has been placed into liquidation after seeing a significant drop in turnover following November's earthquakes, w
comcoms competition concerns over veros tower bid pushes out decision deadline
By Paul McBeth June 30 (BusinessDesk) - The Commerce Commission has delayed its decision on whether Australian-owned Vero Insurance New Zealand will be allowed to buy NZX-listed rival Tower after rais
suncorp nz profit knocked by wild weather
Suncorp’s New Zealand unit posted a 17% decline in net profit to $217 million in the 12 months ended June 30, with the insurer paying out more on natural hazards such as the Napier floods in Novembe
aa insurance drives suncorps premium growth
Suncorp’s New Zealand division – which operates the Vero Insurance, AA Insurance and AA Life joint ventures, and Asteron Life brands – lifted first-half profit by almost a fifth to a record $129
mark dunajtschik settles with his former lawyer he alleged owed him 6m
Mark Dunajtschik has settled a dispute with his former solicitor, Mike Garnham, who he alleged owed him over $6 million and was "simply trying to avoid" paying him. The case, filed by Dunajtschik and.
asteron centre is a poor seismic performer engineer
Sending home more than 1,500 workers from Wellington’s biggest office building is symptomatic of New Zealand's continued use of pre-cast concrete flooring, structural engineers said. Last week, the
update suncorp nz earnings boosted by new migrants in need of car home insurance
(Recasts to reflect comments from NZ CEO) By Paul McBeth Aug. 4 (BusinessDesk) - Suncorp Group's New Zealand businesses were buoyed by the country's record net inflow of migrants, whose need for car
nib nz reports 132m for first half
The New Zealand arm of insurer nib has produced an underlying operating profit of $13.2 million for the first half of the year. It compares with the $18.2m in the first half of the last financial year
suncorps general nz business posts 21 drop in first half profit as claims rise
By Paul McBeth Feb. 11 (BusinessDesk) - Suncorp Group, the ASX-listed general and life insurer whose local brands include Vero, AA Insurance and Asteron Life, posted a 21 percent drop in first-half
peter neilson leaves as head of financial services council
By Pattrick Smellie Feb. 15 (BusinessDesk) - Former Labour cabinet minister Peter Neilson is stepping down as chief executive of the Financial Services Council, the lobby group representing the KiwiS
suncorp nz lifts first half net profit 83
Suncorp New Zealand said its first-half net profit was up 8.3% but that it’s “firmly focused on customers impacted by the Auckland weather event”. Net profit for the six months ended December wa
dealwatch big firms plan nzx exits
The country’s top deal lawyers have been busy with major exits from the New Zealand Exchange announced just this week. Arvida, which first received a bid last November, turned to its regular adviser
stay put in eq vulnerable buildings mbie says
People are much safer working in an earthquake 'vulnerable' building than they are driving a car to work, the Ministry of Business, Innovation and Employment (MBIE) says. In its latest seismic risk
ird staff sent home due to quake risk
About 1,000 Inland Revenue staff in its main central Wellington office have been sent home after the building was found to be an earthquake risk. IRD said in a statement they would be working from hom
wakeup call suncorp eyes asteron exit
Fresh on BusinessDesk this morning Peter Griffin writes his weekly column on how Australia is thinking big on cybersecurity and space, while we are drifting. Jenny Ruth reports on how Australia is r
seismic fail giant asteron centre to be retrofitted
Asteron Centre, Wellington’s biggest office block, is facing significant earthquake remediation that will leave about 2,600 government and city workers without a workplace for another eight months a
suncorps nz insurance unit lifts 1h profit 81 as claims dwindle in quake free period
By Paul McBeth Feb. 15 (BusinessDesk) - Suncorp Group's New Zealand insurance division lifted first-half profit 81 percent as the Australian owner of Vero Insurance faced fewer claims in a period when
Finance News
Finance
December interest rate cut uncertain: Fed governor
Lisa Cook says the timing of further reductions will depend on new data.
Finance
Bayly to banks: ‘Just get on with it’
Minister Andrew Bayly is impatient for the changes needed to improve competition.
Finance
‘Regulatory failure’ let NZ’s payments fall behind
NZ was the All Blacks of payments, but now barely makes regionals as regulation lagged.
*All returns are per annum, after fees and before taxes. Data updated at 1:07pm 21 November 2024 (NZT)
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