Dorchester Pacific has, as expected, withdrawn the prospectus for its finance company and is seeking time to repay debenture holders.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

An Australian with a background in life insurance has been appointed to head up ING in New Zealand.

Wellington

Palmerston North

An Australian with a background in life insurance has been appointed to head up ING in New Zealand.

Tauranga

Strategic Finance says that it is "undertaking an intensive review of its business", but says this is part of its year-end close off, rather than a signal of trouble.

Christchurch

Dunedin

ING Life has made a raft of changes to its risk products including some rationalistation, improved benefits for existing policies, along with something new. The new product is small business income cover for one or two person businesses.