Are there too many insurance companies in New Zealand?
- No (54%)
- Yes (43%)
- Not sure (4%)
Financial Services Executive Don Allerston, formerly of Fidelity Life, told the FSC’s Generations conference last week that there’s an element of saturation when it comes to the number of insurance companies in New Zealand.
He told fellow panelists, and the online viewing audience, that there are 17 medical and life insurance companies serving 2.3 million people aged between 25 and 65 in the country.
“I question 17 firms serving an island nation such as ours,” he said. “The answer is not two, but I don’t believe it is 17 either.”
Which brings us to this week’s poll question – are there too many insurance companies in New Zealand? Tell us what you think and we’ll report back next week…