Kiwibank's life insurance aspirations

Kiwibank also promotes its life insurance offering on its website,

In releasing the bank's annual results, chief executive Paul Brock said it plans to sell life insurance through the Kiwibank branch network and has put in place systems and processes and a separate board for the insurance operations.

"It's a relatively small investment in the scheme of things," Brock said. "It will become quite profitable relatively soon," but he added to didn't wish to put any timetable on this.

In response to questions from Good Returns, "Kiwi Insurance writes life and disability-related risk products in its own name and has done so since 2002," Kiwibank spokesman Bruce Thompson confirms.