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Australia and New Zealand Banking Group Ltd. — Capital/Financing Update 2015
Oct 14, 2015
10425_rns_2015-10-14_7d469eb1-8f33-4c54-941d-ce484b8375b2.pdf
Capital/Financing Update
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Media Release
For Release: 15 October 2015
ANZ to sell New Zealand medical insurance business
ANZ today announced it has agreed to sell its New Zealand OnePath Life medical insurance book to nib NZ Limited.
OnePath Life currently has approximately 20,000 medical insurance policies covering 44,000 people. There will be no change to existing policies and nib will honour all current terms and conditions.
ANZ Wealth New Zealand Managing Director John Body said: “Medical insurance is a specialist business and this sale will enable us to focus on our core life insurance business with minimal impact on existing policy holders.”
The transaction is not material to ANZ and is subject to regulatory approval.
For media enquiries contact:
Stephen Ries Head of Media Relations Tel: +61 (409) 655551 Email: [email protected]
Louise Nicholson Wealth Communications Manager Tel: +64 (274) 959366 Email: [email protected]
Australia and New Zealand Banking Group Limited ABN 11 005 357 522