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Cigna New Zealand has announced that final regulatory approval has been granted from the Reserve Bank of New Zealand and the Overseas Investment Office for the acquisition of ANZ’s OnePath Insurance business.
Earlier this year, Cigna entered into negotiations with ANZ to purchase OnePath.
Once completed, this acquisition will make Cigna New Zealand’s third largest life insurance provider.
Centenary Year
Cigna celebrate is currently celebrating 100th year of its operation. Cigna has a long history in the New Zealand market as a strong and sustainable business that customers can trust.
Cigna New Zealand Chief Executive Gail Costa said, “We are pleased to have reached this important milestone on the journey. This is an exciting time for both organisations as we work towards bringing the companies together.”
The sale is expected to be completed by early 2019.
About Cigna Life Insurance
Cigna has been serving New Zealander for nearly a century, and with in-depth local consumer and industry knowledge, it protects more than 350,000 New Zealanders with insurance policies. Its products and services include life, funeral, income protection, trauma, accidental death, cancer cover, travel and bill protection insurance.
Cigna’s products are available to partner companies to retail in their own names.
Cigna New Zealand is part of Cigna Corporation, a Fortune 500 company and has an A (Excellent) financial strength rating which was given by A M Best Company Inc.
Visit www.cigna.co.nz for more information and links to follow us on Facebook and Twitter.
About Cigna
Cigna Corporation (NYSE: CI) is a global health service company dedicated to helping people improve their health, well-being and sense of security.
All products and services are provided exclusively by or through operating subsidiaries of Cigna Corporation, including Connecticut General Life Insurance Company, Cigna Health and Life Insurance Company, Life Insurance Company of North America and Cigna Life Insurance Company of New York.
The products and services are an integrated suite of health services including medical, dental, behavioural health, pharmacy, vision, supplemental benefits and other related products (group life, accident and disability insurance).
Cigna maintains sales capability in over 30 countries and jurisdictions, and has more than 95 million customer relationships throughout the world.
