What to do with $100 million

Fidelity Life chief executive Nadine Tereora says a $100 million investment from the NZ Super Fund has arrived at the perfect time.

The investment, which gives the fund a 41% stake in the insurer, includes $75m of new capital.

Tereora said she was thrilled with the deal.

“It’s no secret that we’ve been growing exponentially over the last couple of years. We’re also very future-focused, and we really needed some further capital to fund our strategy going forward. Given that we’ve got regulatory change on the horizon and all of the changing sands of the industry, it absolutely made sense to get capital in at this time.”