The Financial Services Council (FSC) has announced that insurer Partners Life has joined the association, bringing the total number of members to 14 accociate members and 15 members.
Financial Services Council chief executive Richard Klipin commented: "We are pleased to welcome back Partners Life to the Financial Services Council. The Industry is going through rapid change and Partners Life is an important part of the New Zealand Life insurance landscape."
With the inclusion of Partners Life, the FSC now represents over 90% of the life insurance market in New Zealand.
"Strong competition is a signpost to a robust sector dedicated to serving customers," said Klipin, "and members of the FSC are dedicated to looking after the insurance and wealth needs of New Zealanders."
Partners Life chief executive Naomi Ballantyne added: "Partners Life is very pleased to have re-joined the FSC at this time when the organisation has demonstrated a renewed focus on its key objectives; when the industry is facing significant change; and where a strong and united industry voice has become a necessity."
The FSC said their strategy is focused on three important outcomes to continuously improve, address the hard issues and increase the trust and transparency of the sector.
1. Strong consumer outcomes. The Financial Services industry must continue to deliver great products and services that deliver to the wealth, protection and wellbeing of New Zealanders
2. Sustainability of the Financial Services sector. The sector is key for the prosperity of New Zealand - through the way we serve New Zealanders, to the jobs we create, to the insurance claims we pay, and to the way in which we help people save for retirement.
3. Increasing Professionalism and Trust through the FSC Code of conduct.