Fidelity Life looks to accelerate growth with new capital

Nadine Tereora described the deal as a "fabulous outcome for our business."

The company signalled at its annual meeting last year that it wanted to raise further capital to help grow the business and implement its strategies. She says the interest was predominatly from New Zealand investors, however there were some potential investors offshore.

As a New Zealand-owned life insurance company it was great to have another strong New Zealand business, like the fund, invest into Fidelity, she said.

NZ Super also owns significant stakes in Kiwibank, Kaingaroa Timberlands, Datacom, and Metlifecare. These are all investments and there are no plans to distribute life insurance through Kiwibank.