AIA/Sovereign confirms trips axed

It had earlier said it had no plans past 2019 and on Thursday confirmed they would cease.

It said the decision was part of a wider review that it was undertaking "to support good customer outcomes".

Chief executive Nick Stanhope said: “Our aim is to ensure our relationship and responsibilities with advisers remain closely aligned to supporting best practice and promoting good outcomes for customers.

“As the largest life insurer in New Zealand we take the responsibility of earning and maintaining the trust and confidence of our customers very seriously.