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RBNZ's Orr says investors need to put their money to work
By Rebecca Howard Aug. 8 (BusinessDesk) - Reserve Bank governor Adrian Orr downplayed concerns that depositors will be hard hit by the latest rate cut, arguing that investors need to put their money to work better. “When you have lower interest rates you have to be thinking...
IAG New Zealand boosts annual profit; benign weather caps claims
By Paul McBeth Aug. 8 (BusinessDesk) - Insurance Australia Group's New Zealand division benefited from good weather in the past year, with a lack of natural peril claims and ongoing gross written premium growth driving a 79 percent jump in annual earnings. The local unit r...
AMP renegotiates lower life unit sale price, keeps 20% stake
By Jenny Ruth Aug. 8 (BusinessDesk) - AMP remains determined to divest its New Zealand wealth management business after renegotiating the sale price of its life insurance business on both sides of the Tasman to Bermuda-based Resolution Life for A$3 billion. That’s A$300 mil...
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