{"id":41437,"date":"2018-07-03T16:44:19","date_gmt":"2018-07-03T06:44:19","guid":{"rendered":"https:\/\/riskinfo.com.au\/news\/?p=41437"},"modified":"2018-07-03T16:48:25","modified_gmt":"2018-07-03T06:48:25","slug":"aia-completes-purchase-of-comminsure-in-nz","status":"publish","type":"post","link":"https:\/\/riskinfo.com.au\/news\/2018\/07\/03\/aia-completes-purchase-of-comminsure-in-nz\/","title":{"rendered":"AIA Completes Purchase of CommInsure in NZ"},"content":{"rendered":"<p>AIA Group, the parent company of AIA Australia and AIA New Zealand has completed the acquisition of Sovereign, CommInsure\u2019s New Zealand life insurance business, on 2 July.<!--more--><\/p>\n<figure id=\"attachment_41439\" aria-describedby=\"caption-attachment-41439\" style=\"width: 151px\" class=\"wp-caption alignright\"><a href=\"https:\/\/riskinfo.com.au\/news\/files\/2018\/07\/william-lisle-cropped.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-41439\" src=\"https:\/\/riskinfo.com.au\/news\/files\/2018\/07\/william-lisle-cropped.jpg\" alt=\"\" width=\"151\" height=\"180\" \/><\/a><figcaption id=\"caption-attachment-41439\" class=\"wp-caption-text\">AIA Group Regional Chief Executive,\u00a0Bill Lisle<\/figcaption><\/figure>\n<p>The life insurer announced that its subsidiary, AIA International Limited, had fully acquired Sovereign as part of a wider deal in which the Australian arm of CommInsure would also be acquired by AIA Group (see: <a href=\"https:\/\/riskinfo.com.au\/news\/2017\/09\/21\/comminsure-to-be-sold-to-aia\/\" target=\"_blank\" rel=\"noopener\">CommInsure to be Sold to AIA<\/a>).<\/p>\n<p>As part of the sale announced in September last year, AIA has entered into a 20-year strategic distribution agreement with ASB Bank in New Zealand.<\/p>\n<p>AIA Group Regional Chief Executive,\u00a0<strong>Bill Lisle<\/strong>, said the acquisition is set to \u201csignificantly transform and expand our presence in New Zealand\u201d adding \u201cThis deal represents only the beginning of our long-term vision in New Zealand\u201d.<\/p>\n<p>\u201cWe are committed to helping as many people as possible to live healthier, longer, better lives, through our market-leading programs such as AIA Vitality and our Rehabilitation and Return to Work program,\u201d he said.<\/p>\n<p>\u201cOur new long-term partnership with ASB is a significant opportunity for AIA in New Zealand. We are confident that ASB\u2019s distribution network, combined with AIA\u2019s regional bancassurance capabilities and life insurance product expertise, will deliver strong insurance propositions for our customers,\u201d Lisle said.<\/p>\n<p>AIA New Zealand and Sovereign will continue to operate under their respective brands for the immediate future and until a long-term brand strategy is announced, and both companies will continue to sell their respective products in the near term.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>AIA Group, the parent company of AIA Australia and AIA New Zealand has completed the acquisition of Sovereign, CommInsure\u2019s New Zealand life insurance business, on 2 July.<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[48,6838,4,5],"tags":[],"class_list":["post-41437","post","type-post","status-publish","format-standard","category-company-news","category-new-zealand","category-products","category-services"],"_links":{"self":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/posts\/41437","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/comments?post=41437"}],"version-history":[{"count":0,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/posts\/41437\/revisions"}],"wp:attachment":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/media?parent=41437"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/categories?post=41437"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/tags?post=41437"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}