Pinnacle Life explains its premium increases and accuses other life insurance companies of making unjustified increases to policies.

Last week’s Budget was stimulatory for the economy however that hasn’t encouraged economists to change their forecasts for interest rates, but it may impact on lending policies.

The big mortgage news this week wasn’t around rates, rather it was the announcement from Kiwibank.

Banker-turned-broker Sue Clydesdale has been named the Top Broker of the Year by Mortgage Express.

Time is running out for insurance companies if they plan to start increasing their premiums on July 1 to compensate for tax changes. Generally companies have to give policyholders around 30 days notice before increasing premiums.

Fund manager Tyndall is taking its funds to the retail market and hopes fee-based advisers use them.

Kiwbank chief executive Sam Knowles has announced he will be resigning after 10 years involvement in setting up and then leading the company.

Auckland

Fisher and Paykel Finance has adjusted its long-term rates now it has been accepted into the extended Government guarantee scheme.

Mercer has named Graeme Mather as market business leader for its Investment Consulting business in Australia/New Zealand, as the company continues to strengthen its leadership in the Asia Pacific region.