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News speculation on buyers for ANZ insurance and Comminsure

Goodreturns quotes The Australian and I saw a Reuters article today on the likely buyers for two of the largest insurance businesses in New Zealand: AIA may buy Sovereign, and Zurich may buy ANZ's insurance businesses. If true, this makes good sense for both. AIA achieves scale, which it did not have in New Zealand, and valuable additional size in Australia. Sovereign may benefit from being returned to specialist insurance ownership. The same applies for Zurich, and it will be interesting to have Zurich in this market. They may become an effective competitor in the adviser market in New Zealand with the purchase. That is, if the purchases go ahead. 


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