| Decision | Consent granted |
|---|---|
| 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 |
| Vendor | The shareholders of Ando Insurance Group Limited |
| 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 |