Provident Insurance has announced today it intends to purchase the insurance business of Co-op Insurance NZ.
At present, Provident Insurance’s automotive-owner protection policies are underwritten and supported by Co-op Insurance NZ.
Provident says the partnership benefits from shared competences and commitment to the motor industry.
While the sale is still conditional, heads of both the Provident and Co-op Insurance companies are enthusiastic about the move.
“Our relationship with Co-op Insurance NZ has developed through a shared vision to deliver innovative products and exceed the service levels expected from our market,” says Provident CEO Steve Owens.
“Purchasing Co-op Insurance NZ will give us greater scale, the ability to develop our technology platform and further innovate in product design”.
Henry Lynch, CEO of Co-op Insurance NZ, is equally enthusiastic.
“Provident Insurance has been a great partner for Co-op Insurance NZ and a perfect fit to purchase our insurance business,” Lynch said.