Announcing the transfer of Co-op Insurance NZ’s portfolio of non-life insurance policies

Provident Insurance has entered into an agreement to purchase the non-life insurance business of Co-op Insurance NZ. The policies affected are more commonly known as Carminder, Provident Insurance branded Motor Vehicle Insurance, Provident Insurance branded Luxury Motor Vehicle Insurance and Loanminder which were underwritten by Co-op Insurance NZ. The management of Funeral Plan policies has transferred to Pinnacle Life with effect from 1 September 2018 and Provident Insurance will remain a distribution partner working with the individual Credit Unions around New Zealand.

The Reserve Bank of NZ has approved the transfer of existing non-life insurance policies from Co-op Insurance NZ to Provident Insurance which is effective from 1 August 2018.

Provident Insurance will be taking over responsibility for all the existing Carminder, Loanminder and Provident Insurance’s own suite of motor vehicle insurance policies that were previously underwritten by Co-op Insurance NZ. Provident Insurance is now underwriting any new or renewing policies.

If you have an existing Co-op Insurance NZ or a Provident Insurance branded motor vehicle insurance policy, your policy will continue to provide cover on the same terms and there will be no change to your rights and obligations under your policy. You can be confident that we will continue to provide you with our high level of customer service. There is no action required by you. However, if you want to find out more, please see the following frequently asked questions [FAQ].