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

Co-op Insurance NZ, would like to advise its customers that it has entered into an agreement to sell its non-life insurance business to Provident Insurance.  This will result in a transfer of its Carminder (including Roadside Assistance), Provident Insurance branded motor vehicle insurance, Provident Insurance branded Luxury Motor Vehicle Insurance and Loanminder insurance portfolios to Provident Insurance. Funeral Plan will remain with Co-op Insurance NZ for the time being.

Provident Insurance is a specialist automotive and credit related insurer that started business in 2012 and is 100% New Zealand owned.  It has a ‘Secure’ Financial Strength Rating of B++ (Good), which was reaffirmed by AM Best, an approved Reserve Bank of New Zealand (RBNZ) rating agency, in July 2017.

The transfer of insurance policies from Co-op Insurance NZ to Provident Insurance is subject to RBNZ approval.

If you have a Carminder 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 Provident Insurance will continue to provide you with a 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 in the link.