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Press release Box-ID: 645478

Bancorp Wealth Management New Zealand Limited Level 11, 191 Queen Street 1010 Auckland, New Zealand http://www.bancorp.org.nz
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Bancorp Wealth Management New Zealand Limited

Bancorp increases majority in insurance broker Boston Marks

(PresseBox) (Auckland, )
Bancorp Wealth Management New Zealand Limited (Bancorp), New Zealand's leading banking group in private and investment banking with an international focus, is increasing its equity investment in the insurance broker Boston Marks and thereby taking a major step in the further implementation of the growth strategy it has embarked on.

By providing access to over 5,000 customers in more than 30 countries, Boston Marks' international positioning as an insurance broker opens up significant cross-selling potential in the areas of aircraft financing and insurance and brokerage of aircraft insurance in Bancorp's Aviation division. In addition, its specific aviation expertise and strong market position allow for attractive, customised insurance solutions, resulting in competitive advantages particularly in aviation financing by Bancorp. Boston Marks therefore acts as a growth driver and a core element of the expansion strategy embarked on. In this context, the company anticipates a significant expansion of its market position in the field of aviation.

As a result of the increase in the equity interest in Boston Marks to 40%, the company will be included in the scope of consolidation of the Bancorp Group. Boston Marks generated gross written premiums totaling approximately USD 200 million in the 2012/2013 financial year.

With 13 subsidiaries and equity investments, the Bancorp Group operates in two business areas. In its Private Banking division, the Bancorp Group offers an extensive portfolio of banking products, services and investment opportunities in New Zealand. In its second division, Aviation, it holds equity investments in the field of aviation financing, insurance brokers and aviation-related companies. The equity investment in Boston Marks Holdings Limited (Boston Marks), the world's leading independent specialist in the brokerage of aircraft insurance, plays a key role in this area.

Bancorp Wealth Management New Zealand Limited

Bancorp Wealth Management New Zealand Limited (ISIN: NZBWME0001S2) and its subsidiaries are a banking group based in New Zealand that provides predominantly Asian clients with banking services and investment opportunities in New Zealand. Under its internationally oriented "Aviation" division, the company holds equity investments in the field of aviation financing, insurance brokers and aviation-related companies. Bancorp Wealth Management New Zealand Limited acts as a holding company. Its operating activities are conducted by 13 subsidiaries and equity investments.

It is intended to admit the shares of Bancorp Wealth Management New Zealand Limited to trading in the Entry Standard of the Frankfurt Stock Exchange in 2013.

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The publisher indicated in each case is solely responsible for the press releases above, the event or job offer displayed, and the image and sound material used (see company info when clicking on image/message title or company info right column). As a rule, the publisher is also the author of the press releases and the attached image, sound and information material. The use of information published here is generally free of charge for personal information and editorial processing. Please clarify any copyright issues with the stated publisher before further use. In case of publication, please send a specimen copy to service@pressebox.de.