Wellington, November 3, 2018
Cigna New Zealand has announced that final regulatory approval has been granted from the Reserve Bank of New Zealand and the Overseas Investment Office for the acquisition of ANZ’s OnePath Insurance business.
Earlier this year, Cigna entered into negotiations with ANZ to purchase OnePath.
Once completed, this acquisition will make Cigna New Zealand’s third largest life insurance provider.
This year will see Cigna celebrate its 100th year of operation. Cigna has a long history in the New Zealand market as a strong and sustainable business that customers can trust.
Cigna CEO Gail Costa
Cigna New Zealand Chief Executive Gail Costa said, “We are pleased to have reached this important milestone on the journey. This is an exciting time for both organisations as we work towards bringing the companies together.”
The sale is expected to be completed by early 2019.
About Cigna Life Insurance
Cigna Life Insurance New Zealand Ltd is the place that New Zealanders go to for their health, wellness and sense of security solutions.
Cigna has had New Zealander’s backs for nearly a century, and with in-depth local consumer and industry knowledge protects more than 350,000 New Zealanders with insurance policies. Our products and services include life, funeral, income protection, trauma, accidental death, cancer cover, travel and bill protection insurance.
We also make our products available to partner companies to retail in their own names. Cigna New Zealand is part of Cigna Corporation, a Fortune 500 company and has an A (Excellent) financial strength rating which was given by A M Best Company Inc.
Visit www.cigna.co.nz for more information and links to follow us on Facebook and Twitter.
Cigna Corporation (NYSE: CI) is a global health service company dedicated to helping people improve their health, well-being and sense of security.
All products and services are provided exclusively by or through operating subsidiaries of Cigna Corporation, including Connecticut General Life Insurance Company, Cigna Health and Life Insurance Company, Life Insurance Company of North America and Cigna Life Insurance Company of New York.
Such products and services include an integrated suite of health services, such as medical, dental, behavioural health, pharmacy, vision, supplemental benefits, and other related products including group life, accident and disability insurance.
Cigna maintains sales capability in over 30 countries and jurisdictions, and has more than 95 million customer relationships throughout the world.
To learn more about Cigna®, including links to follow us on Facebook or Twitter, visit https://www.cigna.com
For more information about Cigna’s proposed acquisition of Express Scripts, please visit http://www.makinghealthcaresimple.com