As a number of the recipients of my newsletter have their risk protection cover & portfolio with either Sovereign or AIA, I wanted to update you on the acquisition of Sovereign by AIA here in NZ & in Australia AIA have purchased the insurance business of the CBA Bank.

Here is the article recently released by Good Returns here in NZ.

A few points on the acquisition

• At this stage, both companies here in NZ are trading as it was prior to the acquisition
• For all existing clients either Sovereign or AIA nothing changes at this point & if & when there are any changes clients will be notified & advised of any changes
• The combined company will offer to the NZ market a financially strong company with excellent products, policies & benefits at market competitive premiums
• AIA are the world’s largest life insurance & risk protection company
• The company will as part of the acquisition be offering to the NZ market in the future the AIA Vitality programme which will offer to clients a number of additional benefits for their enjoyment & use
• Nick Stanhope the CEO of Sovereign will assume the role of CEO of the AIA/Sovereign company