Proposed sale of Lumley General Insurance (N.Z.) Limited to IAG (NZ) Holdings Limited

Release date
06 June 2014

The Reserve Bank of New Zealand has completed its assessment under section 28 of the Insurance (Prudential Supervision) Act 2010 of the proposed change of control of Lumley General Insurance (N.Z.) Limited to IAG (NZ) Holdings Limited.

The Reserve Bank of New Zealand is satisfied that Lumley General Insurance (N.Z.) Limited would continue to meet the licensing criteria set out in section 19(1)(a) to section 19(1)(m) of the Insurance (Prudential Supervision) Act 2010, should the proposed transaction occur.

Media Contact:

Angus Barclay
External Communications Adviser
Ph 04 471 3698, 027 337 1102, angus.barclay@rbnz.govt.nz