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Spring cleaning your debt, cashback offers & contactless garage sales: This week s best banking news

Spring cleaning your debt, cashback offers & contactless garage sales: This week s best banking news
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The Westpac (ASX:WBC) share price has fallen 8% over the last 30 days

The Westpac (ASX:WBC) share price has fallen 8% over the last 30 days The Westpac (ASX:WBC) share price has fallen 8% over the last 30 days It’s been a tough run on the ASX for Westpac. We take a closer look at what’s happened Brooke is a Junior Financial Journalist at the Motley Fool Australia. Brooke s interests in finance and the share market evolved during her time at Charles Sturt University. There, she studied a Bachelor of Communication, majoring in journalism and sub-majoring in international relations. In her spare time, you ll find Brooke gallivanting around South East Queensland, no doubt with her dog in tow.

Fidelity Life appoints Bronwyn Kirwan

Bronwyn Kirwan has been appointed to top sales and service role. Fri, 09 Jul 2021 Bronwyn Kirwan. Hot on the heels of announcing its acquisition of Westpac Life and a new strategic alliance with Westpac NZ, Fidelity Life has confirmed former SHARE and Swiss Re executive Bronwyn Kirwan as its new chief sales and service officer. Kirwan starts on August 9 and will report to chief executive Melissa Cantell. Cantell says Kirwan’s appointment is a crucial one as the company’s customer-led transformation progresses. “Bronwyn’s deep insurance experience and technology credentials will be invaluable as our plans to diversify our channel mix and reach even more New Zealanders develop.

Ngai Tahu buys stake in insurance sector

Ngai Tahu buys stake in insurance sector 08 Jul 2021 09:03 AM Photo: Getty Images. Related Podcast The departure of banks from the life insurance sector has provided an opportunity for Ngāi Tahu Holdings, which is part of a $400 million deal for local insurer Fidelity Life to buy Westpac’s New Zealand life insurance business. Holdings is putting in $140 million for a 24.9 percent stake in Fidelity, with Fidelity’s largest shareholder, the NZ Super Fund, co-funding the acquisition. Chief executive Mike Pohio says the investment will provide attractive benefits to both sides as well as further diversifying and increasing the growth profile of Holdings’ portfolio.

Bell Gully Advises Fidelity Life On Acquisition Of Westpac Life-NZ-Limited

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

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