976496261
Paul McBeth
Paul McBeth
Save Story
News

Small finance companies likely to be forced out: KPMG

Thursday 18th of February 2010

Accounting firm KPMG expects the drive towards greater regulation and the burden of meeting new requirements will drive smaller entities out of the sector, according to its 2009 Financial Institutions Performance Survey - Non-banks Review.

"We understand that a range of merger discussions are currently occurring across a number of entities in both the finance and savings sector. 2010 may...

Want to read the full article?

Click the button below to subscribe and will have free unlimited access for a limited time to full article and all other articles on the site.

You will also be able to comment on articles on Good Returns.

Sign in
Previous Article Next Article
Latest News
[Weekly Wrap] What would Gordon and Shirley think?
[Weekly Wrap] What would Gordon and Shirley think?
4 min read
Barrass resigns as FMA chief executive
Barrass resigns as FMA chief executive
2 min read
FMA asks: How well are you looking after client money?
FMA asks: How well are you looking after client money?
4 min read
AIA moves into wealth with annuity launch planned
AIA moves into wealth with annuity launch planned
3 min read
Latest Comments
Fidelity Life sold to Partners
Good leaders are a rare commodity these days. Milton built a great business but when he left, a succession of bankers took over who we know are ignorant about insurance. We saw AMP buy AXA with bankers running AMP. What resulted was two 100 year old businesses being destroyed have bankers at the helm. We can hope that the boards of the few remaining insurers note that appointing a person with a banking background to the leadership role is a destructive appointment.
21 hours ago Quality Advice
Fidelity Life sold to Partners
A shame to see Fidelity Life ceasing to be NZ owned, and for there to be no NZ owned Insurers left. It's sad to see what has happened to the company since Milton Jennings was in charge. You get the feeling if more of his type of leadership was continued that Fidelity might have continued to grow rather than the slow decline that has happened since Milton's tenure.
1 day ago Just an opinion
Who is responsible for notifying policy changes?
Of course it is the responsibility of the insurer to clearly communicate with its Policy holders, and Advisers together, regarding all changes on a Policy. There is at least one insurer that feels that a simple email to the Advisor on every Anniversary renewal is a bit too much for them! The Advisor has to be pro-active and chase renewal communications every year through the Insurer's website. Where is the responsibility of the insurer there?
1 day ago Porus Kateli
Fidelity Life sold to Partners
Can the New Zealand Life Insurance afford further shrinkage? With AIA performing so poorly options to insure will fall to just Partners, Asteron ( Acenda) and Chubb for mainstream Life Insurers. Of course there is PSP but they have a very small, targeted client group.
1 day ago Quality Advice
AIA moves into wealth with annuity launch planned
This is great news indeed, well done AIA. I hope you were able to solve the tax treatment which plagued this cornerstone product.
3 days ago Goldcard