Applicant
Tasman BidCo Limited
Case number(s)
202500045
Decision date
Type
Decision
Decision

Consent granted
Section 13(1)(a) Overseas Investment Act 2005

Decision maker

Toitū Te Whenua Land Information New Zealand

Decision date

7 April 2025

Pathway

Significant business assets 

Investment

Acquisition of up to 75% of the share capital in Ando Insurance Group Limited 

Consideration

Withheld under section 9(2)(b)(ii) of the Official Information Act 1982

Applicant

Tasman BidCo Limited
North America 43%
Asia Pacific 39%
Europe 16%
Various 2%

Vendor

The shareholders of Ando Insurance Group Limited
New Zealand 61%
Luxembourg 39%

Background

The Applicant is indirectly owned by Australian insurance services provider The Envest Group Pty Ltd and ultimately owned by a global insurance services provider, Ardonagh Group Holdings Limited. It is acquiring up to 75% of the ordinary shares in New Zealand insurance provider Ando Insurance Group Limited.

Consent was granted as the Applicants have met the investor test criterion.

The Minister of Finance has decided that the Investment is not contrary to New Zealand’s national interest.

More information

Philip Ascroft
Chapman Tripp 
PO Box 2206
AUCKLAND 1140