Insured Group will be delisted by the New Zealand Stock Exchange (NZX) on March 7.

“The NZX is exercising this discretion due to Insured Group’s recurring failure to comply with the main board listing rules,” it said in a statement.

Insured Group shares have been suspended since the beginning of October due to the company failing to lodge its 2013 annual report. The report has still not been lodged.

Meanwhile, two of Insured Group’s five directors have resigned from the WA insurance broker.

Anne-Marie Syme resigned in December last year, although Insured Group only informed the NZX on Friday. She had been a non-executive director since March 2005 of Australian Consolidated Insurance, and subsequently Insured Group since April 2010.

The other director who has resigned is New Zealand-based Daniel O’Leary, who was appointed to the Insured Group board in July 2010 and resigned last Monday. His resignation was announced on Friday.

Insured Group MD Wayne Miller says the company does not intend to replace either director.