Partners Life confirmed late last week that all regulatory approvals in Dai-ichi Life’s acquisition of the company have been received, and that the expected completion date for the transaction has now been accelerated to 30 November 2022.
…To reach this milestone so quickly makes us incredibly proud
In noting Partners Life now has a valuation of around NZ$1 billion as a result of the transaction, MD, Naomi Ballantyne, commented, “To reach this milestone so quickly makes us incredibly proud. It also demonstrates the excellent synergies the Dai-ichi Life and Partners Life teams have formed to jointly facilitate the rapid and smooth transition of ownership of the Partners Group.”
Partners Life CFO, Stewart Taylor, also noted completion of this transaction, which sees Dai-ichi Life acquire 100 percent of the shares in the NZ insurer, will allow Partners Life to “…accelerate its focus on innovation and the use of technology to expand access to vital insurance products to more Kiwis.”
See also: Partners Life – Business as Usual