tmmonline.nz  |   landlords.co.nz        About Good Returns  |  Advertise  |  Contact Us  |  Terms & Conditions  |  RSS Feeds

NZ's Financial Adviser News Centre

GR Logo
Last Article Uploaded: Friday, November 22nd, 6:31PM

Insurance

rss
Latest Headlines

Shareholders open to sale: Pinnacle

Some of Pinnacle Life’s shareholders are open to the possibility of the full sale of their shares during its capital raising process, one of the company’s partners says.

Tuesday, March 26th 2013, 12:02PM 1 Comment

by Susan Edmunds

There have been rumours that Pinnacle is on the verge of a sell-off.

The company received a financial strength rating of B last year and is undertaking a capital raising to expand its operations and improve its rating.

Pinnacle Life partner Ed Saul confirmed the firm was still in the process of a capital raising.

“The objective is to raise capital for further expansion and growth. The objective is not to sell Pinnacle Life. However, in issuing new capital, some existing Pinnacle shareholders (particularly some that have been with the company since inception in 1998) are open to the possibility of a partial or even full sale of their shares, depending on the requirements of the investor.”

« Regulation showing results: RBNZInsurer pays out $160,000 for surgery »

Special Offers

Comments from our readers

On 5 April 2013 at 6:15 pm 6ftndr said:
haha, not surprising some shareholders want out.

Sign In to add your comment

 

print

Printable version  

print

Email to a friend
Insurance Briefs

Chubb's latest champion
Young maths prodigy takes out actuarial award.

New book: Unlocking group insurance
Christchurch adviser Corey Williams has released a new book helping advisers and employers put group insurance schemes in place.

Insurer gets warning from RBNZ
Geneva Finance's insurance subsidiary Quest Insurance been given a warning from the prudential regulator.

Big Shout Out
We wanted to give a Big Shout Out to Jack Newman for his fund raising efforts over the weekend.

News Bites
Latest Comments
Subscribe Now

Cover Notes - Specific news aimed at risk advisers

Previous News
Most Commented On
About Us  |  Advertise  |  Contact Us  |  Terms & Conditions  |  Privacy Policy  |  RSS Feeds  |  Letters  |  Archive  |  Toolbox  |  Disclaimer
 
Site by Web Developer and eyelovedesign.com
x