Fidelity Life has been New Zealand's largest locally owned life insurer for years. Now it's set to change hands. Partners Group Holdings, the parent company of Partners Life, has agreed to buy it, subject to regulatory approvals.
If you hold a Fidelity Life or Partners Life policy, you might be wondering what this means for your cover. Here's what's been confirmed, what hasn't, and what's actually worth doing.
What's happening with Fidelity Life and Partners Life?
Partners Group Holdings has agreed to buy all the shares in Fidelity Life. The deal was announced on 3 September 2026 and still needs regulatory approval before it can go ahead.
Partners Group Holdings is owned by Japan's Daiichi Life Group. In its disclosure to the Japanese market, Daiichi Life put the price at NZ$630 million and said it's targeting completion between March and July 2027. Fidelity Life's current major shareholders include the Guardians of New Zealand Superannuation and Ngāi Tahu Investments.
Together, the two insurers cover a lot of Kiwis. Partners Life insures more than 340,000 lives and Fidelity Life protects more than 300,000 New Zealanders, according to Insurance Business NZ.
Do I need to do anything with my Fidelity Life policy?
No. Both companies have said customers and advisers don't need to take any action, and that existing contacts and relationships carry on as they do today.
Keep paying your premiums as normal. If you stop paying, your cover can lapse, and that's a far bigger risk than anything in this deal.
Will my cover or premiums change because of the sale?
Nothing has been announced. Until the deal is approved and completed, Fidelity Life and Partners Life say they'll keep operating independently as they do now.
Your policy is a contract with your insurer, and its terms set out what's covered and how premiums can change. Premiums can already go up for reasons that have nothing to do with a sale, such as your age, inflation adjustments or insurer-wide repricing. We looked at why cover is costing more in life insurance in NZ is getting pricier.
What happens after completion, such as whether products are combined down the track, hasn't been made public. If that changes, we'd expect customers to be told well before anything happens.
Should I switch insurers because Fidelity Life is being sold?
Not because of the sale alone. Switching life or health cover means applying again from scratch, and that can leave you worse off.
A new insurer will look at your health today, not when you first took out cover. Anything that's changed since then could mean exclusions, loadings or a decline. Some benefits also have stand-down periods that start again with a new policy. That's why the golden rule is simple: never cancel your existing cover until your new cover is in force.
That said, a big change like this is a good prompt to check your cover still fits. Has it been a few years since anyone looked at it? Book a free 15-minute consultation and we'll go through it with you.
Is it a good time to review my life insurance anyway?
If your life has moved on since you took out cover, yes. A new mortgage, kids, a pay rise or a change of job can all mean your cover is too low, too high or missing something.
A good review looks at a few things:
- Whether your life cover still matches your debts and what your family would need.
- Whether you have income protection or trauma cover, and whether the amounts still make sense.
- How your premiums are structured, and what they're likely to do as you get older.
- Whether your beneficiaries and policy ownership are still right.
Our guide on how much life insurance cover you really need is a good starting point.
Common questions about the Fidelity Life sale
When will the Fidelity Life sale be finished?
Daiichi Life has said it's targeting completion between March and July 2027, subject to approvals from the relevant authorities.
Will my Fidelity Life claim be affected?
Fidelity Life says it will keep operating as it does today while the deal goes through approvals. Claims should be made the same way they are now.
Is Fidelity Life still a New Zealand company?
It's New Zealand founded and currently locally owned. If the deal completes, it would be owned by Partners Group Holdings, which is part of Japan's Daiichi Life Group.
Will my adviser change?
Both insurers say existing relationship channels and contacts continue as they are. If you have an adviser, they're still your first port of call.
How we can help
Invicta's personal insurance advice is fee-free. We work with a range of insurers, including both Fidelity Life and Partners Life, so we can explain what this deal does and doesn't mean for you. We'll check your existing cover, compare it with what's available, and only suggest a change if it genuinely puts you in a better spot. Learn more about our personal insurance advice.
Stay covered, stay calm
Insurer sales make headlines, but your cover doesn't vanish overnight. The bigger risk is making a rushed decision you can't undo.
Want someone to look over your policy and tell you where you stand?
Let’s Make it Happen
15 minutes is all it takes. We’ll give you clear, fees-free advice so you can get your ducks in a row
Sources
- Fidelity Life, Partners Group Holdings Limited announces plans to acquire Fidelity Life (3 September 2026)
- Insurance Business NZ, Fidelity Life acquisition valued at NZ$630 million, Daiichi says (4 September 2026)
- RiskinfoNZ, Target date set for completion of Fidelity Life acquisition (7 September 2026)
- Daiichi Life Group, Acquisition of Fidelity Life by New Zealand subsidiary (PDF)
General Information Disclaimer
The information in this article is general in nature and is not intended to be personalised financial advice. It does not take into account your individual goals, financial situation, needs, or circumstances.
Any examples, figures, rates, or scenarios are for illustrative purposes only and may change over time.
Before making any financial decision, you should consider whether the information is appropriate for your circumstances and, where appropriate, seek personalised advice from a licensed financial adviser.
Never cancel existing cover until new cover is in force.
Related Blogs
Let’s Make it Happen
15 minutes is all it takes. We’ll give you clear, fees-free advice so you can get your ducks in a row