New life co set to go in April

New life company Partners Group has raised sufficient capital to get up and running in the market with a planned launch date of March or April.

Monday, January 10th 2011, 8:47PM 2 Comments

by Jenha White

Director Naomi Ballantyne says the company is in the process of finalising systems, moving into premises and hiring initial staff.

She says since the capital was raised, a huge amount of work has been done on product and pricing, because that has to be done to configure systems and produce marketing material.

Ballantyne is pleased to have received a significant amount of feedback from the market with advisers keen to have another player in the market.

"Having started up both Sovereign and Club Life, it seems the appetite from advisers for a new player is 10 times stronger now than it was then when we launched the other two companies.

"We're getting a bit scared about the speed at which it might take off, which is a great problem to have," she says.

Ballantyne explains that the company has a bit more talking to do to try and get a feel for expectations in its first year, but she thinks they have probably underestimated production and they will gear up closer to the launch date.

The directors of Partners Group Holdings which owns Partners Life are Naomi Ballantyne, Richard Coon, Boyd Klap and Pauline Prescott.

Partners Group Holdings shareholders are Ballantyne, Coon, Okke Hansen, Carol Campbell, Dennis Hamann, Kraj Trust, Don and Denise Turkington.

Jenha is a TPL staff reporter. jenha@tarawera.co.nz

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Comments from our readers

On 13 January 2011 at 5:59 am John said:

I wish Naomi all the best with this latest endeavour on her part. She is a smart woman so I am sure this will go well for her and the people backing her. It would be great to have a new insurer on the scene in the NZ market that is a) not owned by a trading bank or b) has no self defeating arrogance (the likes that AMP exhibit currently)

On 13 January 2011 at 10:36 am Nick said:

Good on Naomi. It looks like she's bringing fresh air back into the market. I hope the new venture works well.