Lifetime Group gets life business, sells general - Good Returns
Lifetime Group gets life business, sells general - Good Returns
The Christchurch-based Lifetime Group has formed a strategic partnership with insurance brokerage Rothbury Group which see each one focus on its core strengths.
The two groups will work together and Lifetime will focus on life insurance and mortgages and Rothbury will do general insurance.
Under the deal Lifetime has acquired Rothbury’s life and mortgage businesses; Rothbury gets Lifetime’s general business and it has taken a cornerstone shareholding in Lifetime Group.
Rothbury, which is the fourth largest general broker in New Zealand and part of the ASX-listed Steadfast Group, has bought a 19.5% stake in the business valued at $4.5 million.
News alert March the 5th 2021: Three large earthquakes occurred off the coast of NZ. Civil Defence alerts buzzed cellphones around New Zealand warning of a possible tsunami on the East Coast. Updates in media and Civil Defence website were made known and Kiwis around the land in at risk areas responded to the threat.
This week the Government announced a suite of new policy with the intent to assist first home buyers into the market. This included tax changes for investors, bright-line extensions and increases to the cap on First Home Loans and First Home Grants.