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Wednesday, 7 July 2021, 4:03 pm
Bell Gully is pleased to have advised Fidelity Life, New
Zealand s largest locally owned life insurer, on its
agreement to acquire Westpac Group s New Zealand life
insurance business and its associated equity funding
arrangements.
In connection with the acquisition,
Fidelity Life will enter into a 15-year strategic
alliance with Westpac NZ and will be the exclusive
distributor of life insurance to Westpac s retail customers.
The transaction involves equity funding arrangements with
Fidelity Life s largest shareholder the NZ Super Fund and
new investor Ngāi Tahu Holdings.
The agreement is
subject to regulator and Fidelity Life shareholder
approvals, and is expected to be completed by the end of
Business Scoop » Bell Gully Advises Fidelity Life On Acquisition Of Westpac Life-NZ-Limited scoop.co.nz - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from scoop.co.nz Daily Mail and Mail on Sunday newspapers.