Promina Group Limited
We advised Promina on the New Zealand aspects of its agreement to merge with Suncorp-Metway Limited in a transaction valued at A$7.9 billion.
The Standard Life Assurance Company
We advised this UK-based company on its £1.1 billion demutualisation and flotation.
PMI Indemnity Limited
Bell Gully advised both parties on the transfer of the New Zealand business of PMI Indemnity Limited to PMI Mortgage Insurance Limited through a court-approved scheme arrangement, in conjunction with the equivalent Australian transaction. Both of these companies are general insurers. A court-approved transfer requires the approval of policy holders to ensure those affected are fully informed of any transfer and to give them the opportunity to get more information if required. We advised on the vote of policy holders and, in this case, gained their approval.
Transfer of ANZ Life Assurance
We advised on the transfer of the New Zealand business of ANZ Life Assurance Company Limited to ING Insurance (NZ) Limited through a court-approved arrangement. This transfer also required the support of policy holders of life insurance at this insurer. We advised the insurers on getting their approval.
Plain English conversion
Bell Gully acted for Asteron Life Limited in a project to convert a series of policies into plain English for Asteron clients. The insurance policies involved were a joint venture between two large New Zealand insurers, Asteron Life Limited and AA Insurance.