Pockets of financial stress among households are likely to grow in the medium term because of rising debt-servicing burdens, but most mortgage borrowers have kept up with their payments so far, says the Reserve Bank.

More than a month ago, Southern Cross asked if I'd like to meet their chief executive, Nick Astwick when he was next in Wellington and a date was agreed: Friday, Oct 27.

Accuro Health Insurance Society's policyholders need have no fear that they will lose benefits when it merges with Union Medical Benefits Society, known as UniMed, both organisations say.

Special meetings of Accuro Health Insurance Society's policyholders scheduled for Oct 30 and Nov 20 will vote on it merging with the larger Union Medical Benefits Society, known as UniMed, to form New Zealand's third largest health insurer.

Kiwi startup Akahu is hoping to become like the plumbing which facilitates open banking.

Partners Life has unbundled its total and permanent disability cover from its trauma cover, allowing customers to chose whether or not they want it, as part of its efforts to reduce the cost of its policies to make them more affordable.

Westpac New Zealand is claiming to be the first of the major banks to use an exemption the government provided to reduce red tape for people wanting to move their mortgage to another bank.

Global fund manager Dimensional Funds Advisors is launching a new sustainable equities fund investing in Australian stocks but within a New Zealand portfolio investment entity, or PIE, structure to make it more tax effective for local investors.

The Southern Cross Health Society says it's “very supportive” of the intention of the Conduct of Financial Institutions Act (CoFi).

The Southern Cross Health Society says it made a $16.5 million net loss for the year ended June as it used the previous year's windfall $90 million profit to keep premiums lower than they might otherwise have been.

The National Party's pledge to scrap the Financial Markets (Conduct of Institutions) Amendment Act 2022 (CoFi) “threw a spanner in the works” but businesses should regard it as an opportunity to improve their business, according to accounting firm KPMG.

Southern Cross says it is reviewing the way it communicates changes it makes to the policies it offers following the revelation that many insurance agents were unaware it withdrew a $60,000 a year benefit in late 2020.

The Financial Services Council (FSC) is determined to remain apolitical and won't be commenting on any party's proposals.

Heartland Bank is arguing that it is challenging for the smaller banks to offer retail products because the major banks use their scale as a kind of barrier to entry.

The Financial Markets Authority is aware of the Southern Cross situation in which those in the industry have been surprised to learn it withdrew a $60,000 a year benefit in late 2020.

Others in the health insurance industry had been unaware that Southern Cross had removed its non-surgical hospitalisation benefit.