Hamilton

It's been a full on week with a new chief executive at ING, more finance company collapses and new insurance products being rolled out.

While it's been a week of bad news for finance companies there is some positive news too.

Strategic Finance's Australian parent company has confirmed an MBO of the company is currently being discussed.

Epsom, Auckland

Albany, Auckland

Auckland North Shore

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TOWER Health and Life is taking a new crack at the health insurance market, launching what could be called a major medical group policy.

Dorchester Pacific has, as expected, withdrawn the prospectus for its finance company and is seeking time to repay debenture holders.

Napier

UDC Finance today had its rating affirmed by Standard & Poor's, with a ranking of 'AA/A-1'. The outlook remains stable.

St Laurence majority owner and managing director Kevin Podmore says he is relieved to have made the decision to quit the lending market, and he doesn't intend to re-enter it again.

OPI Pacific has issued a A$270 million legal claim against its major shareholder, the ASX-listed Octaviar, citing problems with the Australian group's lending activities.