Contents
Chapman Tripp has advised Daiichi Life / Partners Life on its proposed $630m acquisition of Fidelity Life, subject to regulatory approvals and other completion conditions. The firm’s involvement builds on its longstanding relationship with Partners Life, which Chapman Tripp has advised for more than a decade, including through its acquisition of BNZ Life and sale to Dai-ichi Life in 2022.
The Chapman Tripp team advising on the transaction was led by Tim Tubman, with support from Angela Sargent, Joshua Pringle, Kelly McFadzien, Guy Houghton Jones, Hamish Butler, Tim Williams, Emma Peart, Lucy Cooper, Vonda Engels and Bevan Miles.
The transaction will bring Partners Life and Fidelity Life under common ownership and represents a significant development in New Zealand’s life insurance market.
Fidelity Life is New Zealand’s largest locally owned life insurer and covers more than 300,000 people. Partners Life provides cover for more than 340,000 people.
Tim Tubman said, “We are pleased to continue supporting Partners Life as a long-term client on another important milestone. This proposed acquisition brings together two significant New Zealand life insurers and reflects the continued evolution of the sector. Partners Life has been an impressive New Zealand success story, and we are proud to have been part of their journey for more than a decade.”
