New Zealand’s Commerce Commission has completed a year-long investigation into Youi, following allegations of unscrupulous sales tactics.

The outcome of the inquiry, which began in March last year, will follow.

“We have now concluded the investigation process but are not yet in a position to discuss our findings or the outcome publicly,” a commission spokesman told insuranceNEWS.com.au.

“When we are in a position to do so, we will make a public statement regarding the outcome.”

Youi is alleged to have initiated unauthorised direct debits from credit cards belonging to people who called for policy quotes.

“Until we have got the final feedback from the Commerce Commission, we cannot make any further comments,” Youi communications head Trevor Devitt said. “We are in discussions with the Commerce Commission and we have fully co-operated with it.”

Youi New Zealand was established in August 2014. The South African-owned insurer offers policies on vehicles, home and watercraft.

The New Zealand operation made a $7 million loss in the six months to December 31.

The Insurance Council of New Zealand will not comment until the commission has published its findings.

“I’ve written to Youi and it has communicated to me about the allegations,” CEO Tim Grafton told insuranceNEWS.com.au.

“We will just await the outcome and Youi is keeping us informed.”