Geneva Subsidiary Renews Insurance Distribution Agreement

Media Release 2 May 2022


GENEVA FINANCE LTD
QUEST INSURANCE RENEWS DISTRIBUTION AGREEMENT

Quest Insurance Group Limited (a wholly owned subsidiary of Geneva Finance Ltd) and Janssen Insurance Limited have agreed to extend their distribution agreement to March 2027, following the success of the agreement initially established in April 2017. Under its terms, Janssen distributes Quest’s products in competition with Quest’s own direct channel and Geneva’s lending operations. This competitive environment and the similar business cultures have worked to the benefit of both organisations and resulted in Quest’s premium revenue increasing from $2.7m (12 months to March 2017) to $10.6m (six months to September 2021).

Quest is a provider of motor vehicle and loan-related insurance products and commenced operations in October 2002. Since that time the business has grown so that Quest is now a significant contributor to the Geneva group’s pre-tax profit, delivering $2.6m (12 months to March 2021) and $1.7m (six months to September 2021).

Geneva Managing Director David O’Connell says, “Simon Moore, who has responsibility for the Quest operation, and the Janssen team have built a mutually profitable business model where the cultures of both businesses are closely aligned. This has been a driver of Quest’s significant business growth. Given the shared benefits achieved under the initial agreement we are pleased to have the opportunity to further grow Quest’s market share and the profitability of both organisations.”

Jason Wescott, Managing Director of Janssen, says, “We have a strong relationship with Quest. Janssen provides a unique technology-based software which leads the market and we are now positioned and committed to further grow our network and market penetration.”

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For more information:
Alexander PR
Kate Alexander
+64 (0)27 244 6094
[email protected]








About Geneva Finance Limited
Geneva Finance is a New Zealand-owned finance company that provides finance and financial services to the consumer credit and small to medium business markets.
The company provides hire purchase finance, and personal loans secured by registered security interests over personal assets such as motor vehicles. Geneva Finance has been providing funding for family vehicles at competitive rates and a quick approvals process since 2002.
Geneva Finance Limited (GFL) is a listed company on the New Zealand Stock Exchange (NZX).

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Announcement PDF