Industry chiefs admit their ‘grave concerns’ at this ‘undesirable’ situation which will give IAG more than 50% of the market.
After weeks of speculation and debate the wait is finally over for a key player now permitted to acquire the market number 3.
The NZ insurance industry is still on tenterhooks as one of the most important decisions to affect it in years is delayed yet again.
News that its building is up for sale results in more conjecture on the future of one of NZ’s biggest insurers.
Just two weeks before the biggest decision to affect the NZ market in years is issued, a major player asserts its intention to stay number one in New Zealand.
After weeks of rumours, Wesfarmers has officially announced it's selling its insurance broking arm. And the US-based buyer has had a busy week in New Zealand.
Insurance Business NZ can exclusively reveal former AIG and Lumley key players join forces to begin underwriting business and increase capacity for NZ market.
The ACCC has given IAG its seal of approval to buy Wesfarmers’ underwriting business but there are still questions as to how the operation will be integrated.
The Australian Competition and Consumer Commission has approved IAG’s acquisition of Wesfarmers’ underwriting business.
Competitors air their views on NZCC’s announcement to delay its decision on the biggest acquisition to affect the market in years.