New Zealand’s High Court has rejected insurance broker Peter Taylor’s bid to have Suncorp-owned Asteron Life resume paying him income protection benefits.

Justice Francis Cooke ruled Mr Taylor has “not acted in good faith” and must repay the insurer $NZ371,286 ($352,188).

The final amount may be higher, because Asteron is seeking interest on that sum.

Asteron suspended payments in September 2014 when additional information the broker provided failed to answer questions about his work income.

Mr Taylor subsequently began action against the insurer.

Testimony from former employees did not support the broker’s claims that he was not working because of his medical conditions.

And the judge did not accept Mr Taylor’s explanations for buying Mercedes and Maserati cars and going on a trip to Hawaii despite claiming to have back problems.

“I generally found Mr Taylor’s evidence, and his answers in cross-examination, unreliable and at times not credible,” Justice Cooke says in his judgement.

Suncorp's Australian life insurance business has been acquired by TAL Dai-ichi Life, but Asteron in New Zealand remains part of Suncorp.