Who are the new owners?
Foundation Life (NZ) Holdings Limited is a private company that is focused on the acquisition and long term prudential management of life insurance portfolios which are no longer being actively marketed. Foundation Life (NZ) Limited (formerly TOWER Life (N.Z.) Limited) is a 100% owned subsidiary of Foundation Life (NZ) Holdings Limited.
I have a policy with Foundation Life (NZ) Limited – what does the sale mean for me?
Your policy is unchanged by the sale.
How is Foundation Life (NZ) Limited regulated?
Foundation Life (NZ) Limited is regulated by the Insurance (Prudential Supervision) Act 2010, which imposes licensing and prudential requirements on insurers and provides for the supervision of insurers by the Reserve Bank of New Zealand.
Who will manage Foundation Life (NZ) Limited’s funds?
The existing fund management arrangement with Fisher Funds is unaffected by the sale of the business.
When will Foundation Life (NZ) Limited begin managing the policies?
Foundation Life commenced managing your policy on 29 August 2014.
Will I still deal with the same people?
Staff transferred along with the business and you will still deal with the same people (subject to ordinary staff changes).