Chatswood serves the life and health insurance sector in New Zealand with market intelligence, data, and bespoke consulting services. Some of these are provided in conjunction with Quality Product Research Limited - a subsidiary that brings you Quotemonster.
We believe that good decisions are more likely to occur when we have good information about the market environment in which we operate. Intuitive leaps and creative decisions are always required, of course, but the more they are based on a firm foundation of observation, the better they tend to be.
The Companies (Directors Duties) Amendment Act 2023 is now law
The controversial Companies (Directors Duties) Amendment Act 2023 took effect on 7 August 2023. The Act adds an additional section to clarify section 131 of the Companies Act 1993, saying that directors may consider a wide number of factors other than financial gain while making decisions.
The original bill listed five non-exhaustive environmental, social and governance (ESG) factors:
(a) recognising the principles of the Treaty of Waitangi (Te Tiriti o Waitangi);
(b) reducing adverse environmental impacts;
(c) upholding high standards of ethical behaviour;
(d) following fair and equitable employment practices; and
(e) recognising the interests of the wider community.
However, the select committee removed the reference to the ESG factors and the final wording is “To avoid doubt, in considering the best interests of a company or holding company for the purposes of this section, a director may consider matters other than the maximisation of profit (for example, environmental, social, and governance matters).”
More daily news:
FSC publish their spotlight on Life Insurance and spotlight on KiwiSaver as at 30 June 2024
AMP NZ's net profit after tax was A$17 million during the first six months of 2023
mySolutions webinar 'The Value of Financial Advisers ' 23 August 9am
Southern Cross launches Wayfinder Awards
Southern Cross Health Insurance is debuting the Wayfinder Awards, which recognise and celebrate organisations that prioritise their employees’ health and wellbeing. Entries for the awards are open and will close on 20 August, with the awards ceremony being held on 21 November in Auckland.
The award categories are:
Star Wayfarer Award: Recognising individuals who have made significant contributions to improving health and wellbeing within their workplaces, regardless of their position.
True North Award: Honouring people-leaders who go above and beyond to improve the health and wellbeing of their teams through positive leadership.
New Horizon Awards: Recognising businesses that have implemented new programs or strategies to improve the wellbeing of their employees.
Wayfinder Small Business of the Year: Celebrating small businesses with up to 100 employees that prioritise the health and wellbeing of their workforce as a core business strategy.
Wayfinder Medium Business of the Year: Honouring medium-sized businesses with 101-500 employees.
Wayfinder Large Business of the Year: Recognising large businesses with 500 or more employees.
More daily news:
AM Best has confirmed the Financial Strength Rating of A (Excellent) for Chubb Life NZ
Partners Life sponsor the Curve Weekly podcast episodes
Partners Life publish updated claims stats brochure
AMP has lost class action case in Australia over disputed practice buy-out prices
Westpac launch Mastering Your Money workshops
Rachel Thomas writes about fears NZ is developing a two-tier health system