Allianz clears up confusion over NZ premium funder
Allianz Australia has moved to clarify uncertainty in the NZ broker market surrounding the ongoing operation of NZ subsidiary Hunter Premium Funding.
An advertisement in Auckland’s New Zealand Herald newspaper last week announced Hunter “will cease to carry on business in NZ”.
But the notice was merely a regulatory formality following an internal restructure that involved the purchase of Hunter Premium Funding Limited by Allianz NZ on July 1.
The deal means Hunter no longer operates in NZ as an overseas company registered to do business in NZ. Instead it will now operate as a division of Allianz NZ, which itself is a subsidiary of Allianz Australia.
An Allianz spokesman says the notice “may have confused some readers as to Hunter Premium Funding’s ongoing commitment to the NZ market”.
She said the restructure is intended to bring about efficiency gains and bring Hunter “under the broader Allianz NZ brand”.
“In terms of how Hunter Premium Funding carries out its day-to-day operations, there is no change.”
An advertisement in Auckland’s New Zealand Herald newspaper last week announced Hunter “will cease to carry on business in NZ”.
But the notice was merely a regulatory formality following an internal restructure that involved the purchase of Hunter Premium Funding Limited by Allianz NZ on July 1.
The deal means Hunter no longer operates in NZ as an overseas company registered to do business in NZ. Instead it will now operate as a division of Allianz NZ, which itself is a subsidiary of Allianz Australia.
An Allianz spokesman says the notice “may have confused some readers as to Hunter Premium Funding’s ongoing commitment to the NZ market”.
She said the restructure is intended to bring about efficiency gains and bring Hunter “under the broader Allianz NZ brand”.
“In terms of how Hunter Premium Funding carries out its day-to-day operations, there is no change.”