The life insurance business set up by Money Managers has been put into voluntary administration and it is understood the policies will be transferred to a major insurance company.

Christchurch

The business set up to distribute life insurance through Money Managers has been put into voluntary administration and it is understood the policies will be transferred to a major insurance company.

Wellington

The problem of finance companies paying interest rates unrelated to the risks of the investments will continue under the government’s deposit guarantee scheme, the Reserve Bank says.

Wellington

PGG Wrightson Finance, the rural financing unit of PGG Wrightson, plans to raise as much as $75 million selling bonds that trade on the NZX debt market.

Wellington

Auckland

SBS has seen investment growth of over $75 million in the first month of trading as the country’s newest bank.

Borrowing strategies for people with home loans are changing as New Zealand starts on the next part of its interest rate cycle.

Russell Investments has a new boss for its Australasian business. Long-time chief executive of the Asia Pacific region, Alan Schoenheimer has been promoted to a position in London.

Wellington

At Tyndall we remain cautious over the global economic outlook. We do believe that the fundamentals will count again in our markets and confidence should be retained.

We are experiencing dramatic times in World economics. It is too early to foresee an end to the economic adjustments – let alone a ‘bottom’ in our markets.

St Laurence has released an outline of its recapitalisation plan which has two key features: A guarantee from the company and its founder, plus the contribution of capital – albeit in the form of property.