Russell McVeagh assists on the sale of BNZ Life

Leading law firm Russell McVeagh is pleased to have assisted NAB and BNZ on completing the sale of NAB Group’s New Zealand life insurance business, BNZ Life, to Partners Life.

Russell McVeagh Corporate Partner Dan Jones led the team advising NAB and BNZ, with support from Partner Tom Gillespie, Special Counsel Sarah McQueen and Senior Associate Hannah Brown. 
 
BNZ Executive, Customer, Products, and Services, Karna Luke, says, “We’re pleased to be able to complete the sale of BNZ Life to Partners Life. It’s an important part of our drive to simplify our business as we work to perfect the basics and relentlessly focus on serving our customers brilliantly."

Having been announced in December 2020, the deal has been pending regulatory and other approvals which were received in September. Dan also recently advised Fisher Funds on its purchase of Kiwi Wealth for NZ$310 million, and on its acquisition of Aon's KiwiSaver and superannuation schemes.

You can read more on this here.