ISI rejects Partners Life membership

The company's application to join the Investment Savings and Insurance Association has been turned down so it won't be providing sales figures to the associations quarterly survey.

Partners Life chief executive Naomi Ballantyne says she was told the application was turned down as the association wanted to monitor the new company's behavior.

She said that referred to how Partners Life would handle transfer of business.

Ballantyne says the although the company was denied membership it would still observe the ISI's policy on transfers.