The Reserve Bank of New Zealand withdrew from a scheduled liquidation hearing involving CBL Insurance slated to take place this week and has requested that the interim liquidation continue.
Cigna Corp, the New York Stock Exchange-listed health services company, has agreed to acquire ANZ Bank New Zealand's OnePath Life NZ business for $700 million.
Tower says it will have to raise premiums to offset higher reinsurance costs after a spate of wild weather across the Pacific weighed on first-half earnings, and pushed it deeper into the red when combined with the insurer's settlement with Peak Re.
Life insurance companies have less than a month to come up with information to reassure regulators that misconduct being unveiled by the Hayne Royal Commission in Australia isn’t happening here - or is being addressed.
The Government wants to stop insurers blocking claims because irrelevant information was not disclosed, but the changes may not come for years, reports Thomas Coughlan.
Consumer Affairs Minister Kris Faafoi wants people to tell him about their concerns with the insurance industry, as pressure builds on the sector over conflicts of interest around incentives, harsh disclosure provisions, and unfair exemption clauses.
Former Finance Minister Bill English has described the influence of Australia's big four banks as more pervasive in New Zealand than that of China.
The National Government is amending the law for landlords and tenants, but other parties say it is too timid and in the wrong direction. Baz Macdonald reports.
In today's email (sent to subscribers before this morning's decision by the Commerce Commission) we looked at the implications of either a yes, no (or 'yes but no') vote on the proposed Fairfax-NZME merger.
Waterfront properties are still marketed as desirable but rising sea-levels may render thousands of them uninsurable, sending their values into freefall and resulting in fiscal risks for banks and the government, writes Lynn Grieveson.