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International

Low interest rates hit profitability of New Zealand's insurers

June 28, 2016 Reprints

Profitability of New Zealand's insurers is being hit by low interest rates around the world, reported Interest.co.nz.

Davies Financial and Actuarial Ltd. said that premium growth in the nation's general insurance sector fell from 8.2% in 2014 to 0.2% in 2015.

"The investment income return for insurers has been subdued globally - and New Zealand's no exception to that - partially because returns are so low," said Insurance Council of New Zealand CEO Tim Grafton.

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Low interest rates hit profitability of New Zealand's insurers

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