Tower Health & Life has released some enhancements to its Key Person Cover. This cover is designed to pay a monthly benefit if a business owner or key person is unable to work due to an illness or injury.

AIG Life has announced the departure of Jeremy Young, head of distribution – AIG Life, to new opportunities within the insurance industry in Hong Kong.

Wellington

The Reserve Bank has now officially become the regulator of the non-bank deposit-taking sector and all finance companies will have to get ratings.

Napier

Christchurch

Legislation has been introduced into Parliament to ensure employers meet their obligations to pay contributions to their employees' KiwiSaver accounts.

Goldman Sachs JB Were Asset Management has appointed Clare Memmory as a senior equity analyst.

Tauranga

Wellington

A group led by Strategic Finance's managers and directors agreed terms to acquire the business from Allco HIT in a deal valued at about $90 million.

Mike Pero Mortgages has a new chief executive for the second time in a year.

Whether the Financial Advisers Bill will climb the ladder to universal acceptance or slide down the snake to general rebuke hinges on how the select committee answers a few fundamental questions.

Regulation of the adviser sector continues to be the big topic of news this week, with Commerce Minister Lianne Dalziel rejecting calls to slow down the passage of the bill.

Auckland

The Southern Cross adviser team has undergone a recent expansion as part of an ongoing commitment to advisers and three new recruits have joined.