Media release - OnePath acquisition a step closer for Cigna Insurance

Media release - OnePath acquisition a step closer for Cigna Insurance

31 October 2018

Cigna New Zealand is pleased to announce that final regulatory approval has been granted from the Reserve Bank of New Zealand and the Overseas Investment Office for the acquisition of ANZ’s OnePath Insurance business.

Earlier this year Cigna entered into negotiations with ANZ to purchase OnePath. Once completed, this acquisition will make Cigna New Zealand’s third largest life insurance provider.

This year will see Cigna celebrate its 100th year of operation. Cigna has a long history in the New Zealand market as a strong and sustainable business that customers can trust.

Gail Costa, Chief Executive of Cigna New Zealand, says: “we’re really pleased to have reached this important milestone on the journey. This is an exciting time for both organisations as we work towards bringing the companies together.”

The sale is expected to be completed by early 2019.