St Andrew’s Insurance Group has launched into the New Zealand life insurance market through a strategic partnership with global insurance distributor Neilson Financial Services.
The Australasian life insurer will offer a suite of life insurance products tailored to New Zealand, with Golden Insurance – a simplified, underwritten policy for New Zealanders aged 40 to 80 – as the first product available under the arrangement.
The launch marks St Andrew’s re-entry into New Zealand, where the group has more than 25 years of experience as an Australasian-focused life insurer. The company now issues new life insurance business in both Australia and New Zealand.
Golden Insurance closely mirrors St Andrew’s Australian equivalent but incorporates adapted underwriting to meet New Zealand regulatory and market requirements.
Neilson Financial Services, a technology-enabled global distributor with an established presence in multiple international markets, will support the partnership through customer engagement, digital distribution, and data-driven product design.
Chief executive officer Matthew Way said the move was driven by a desire to serve customers who fall outside standard market offerings.
“The New Zealand launch reinforces the group’s commitment to improving access to life insurance for customers who are often underserved by standard market offerings,” Way said.
“Life insurance plays a critical role in providing financial security and peace of mind, particularly for New Zealanders and families planning for the future. Heading into the New Zealand market represents an important step in expanding access to simple, transparent, and customer-focused protection solutions across the region,” he said.
“By partnering with Neilson, we are able to bring products to market efficiently while ensuring they are tailored to the needs of New Zealand consumers. Golden Insurance is the first product available under the partnership.”
Industry data forecasts sustained growth in New Zealand’s life insurance sector over the coming years, with total gross written premiums expected to rise from $5.9 billion in 2024 to about $8.3 billion by 2029, a compound annual growth rate of roughly 7% driven by demand for whole‑life and personal accident products and heightened awareness of financial protection needs. Growth is also supported by demographic shifts such as an ageing population, rising healthcare costs, and concerns about financial security.
Quarterly industry snapshots from the Financial Services Council show that premiums continued to grow through 2025, with total life insurance premium volumes reaching record levels by September, although total claims accepted and coverage numbers saw marginal declines in the same period.
