Partners sale gets tick
The Partners Life sale has received all the required regulatory approvals and settlement has been brought forward.
Thursday, November 10th 2022, 9:39AM
Partners Life says that all regulatory approvals in Dai-ichi Life’s acquisition of the company have been received, and the expected completion date has now been accelerated to November 30.
As a result of the transaction Partners Life now has a valuation of around $1 billion.
Naomi Ballantyne, Founder and Managing Director of Partners Life, says, “to reach this milestone so quickly makes us incredibly proud. It also demonstrates the excellent synergies the Dai-ichi Life and Partners Life teams have formed to jointly facilitate the rapid and smooth transition of ownership of the Partners Group.”
Chief financial officer Stewart Taylor, says, “completion of this transaction will open up great opportunities for our business and customers as well as the wider market. Within our new ownership, Partners Life can accelerate its focus on innovation and the use of technology to expand access to vital insurance products to more Kiwis.”
While global life insurance specialist Dai-ichi Life has acquired 100% of the shares in Partners Group Holdings, the parent company of Partners Life Limited, it remains business as usual at Partners Life.
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