Written by · Reviewed by Smiths Insurance & KiwiSaver — licensed Financial Advice Provider (FSP712931) · Last updated 2026-10-20

Who owns Fidelity Life in New Zealand?

Fidelity Life Assurance Company Limited is described as locally owned by both itself and its buyer. Its largest shareholders are the Guardians of New Zealand Superannuation with 49.62% and Ngāi Tahu Investments Limited with 24.93% (June 2026). That is about to change: on 3 September 2026 its shareholders signed to sell all of the shares to Partners Group Holdings, owned by Japan's Daiichi Life Group, for NZ$630 million. Completion is scheduled for March to July 2027 and needs regulatory approval.

In short

Who are Fidelity Life's shareholders today?

Fidelity Life was established on 9 January 1973 and is headquartered in Auckland. The Daiichi Life Group notice of 3 September 2026 sets out its shareholders as at June 2026 (Daiichi Life Group, an unofficial English translation, retrieved 20 October 2026):

Shareholder Holding (June 2026)
Guardians of New Zealand Superannuation 49.62%
Ngāi Tahu Investments Limited 24.93%
Fidelity Family Account 14.64%
Other shareholders 10.81%

Share capital is NZ$376 million. The notice describes the Guardians as an autonomous Crown entity that manages, among other things, the New Zealand Superannuation Fund. Fidelity Life itself refers to the "NZ Super Fund" and to "Ngāi Tahu Holdings"; the notice names the Ngāi Tahu holder as Ngāi Tahu Investments Limited. The notice does not say who is behind the Fidelity Family Account, and we have not guessed.

Two corrections to things you may read elsewhere. The Guardians are the largest shareholder but hold under half, so "majority owned by the NZ Super Fund" is wrong. And these percentages come from the buyer's notice. We did not check them against Companies Office filings, so if the exact split matters to you, compare them with the company's current record.

What is the sale to Partners Group Holdings?

On 3 September 2026 Partners Group Holdings Limited signed a share purchase agreement to buy Fidelity Life. The notice gives these terms:

Partners Life is a separate licensed insurer that competes with Fidelity Life for adviser business. Insurance Business NZ reports the combined group would cover over 640,000 lives and that plans for the two brands and their products after completion have not been announced (Insurance Business NZ, 3 September 2026). Fidelity Life's own pages that we read do not mention the sale. Our Partners Life ownership page covers the buyer, and Fidelity Life versus Partners Life compares the two products.

Is Fidelity Life New Zealand-owned right now?

Yes, until the sale completes. Fidelity Life calls itself "New Zealand's largest locally owned life insurer" on its home page, which is its own description rather than an independent ranking (Fidelity Life, retrieved 20 October 2026). If the sale completes, Fidelity Life would become a subsidiary of a Japanese-owned group. The notice itself calls Fidelity Life a "locally owned" insurer today.

How is Fidelity Life backed, and what does that mean for your policy?

A.M. Best has rated Fidelity Life A- (Excellent) since December 1996, and the insurer reports an adjusted solvency ratio of 113% at 30 June 2026, a margin of $106.8 million over its adjusted prescribed capital requirement (Fidelity Life: Financial strength, retrieved 20 October 2026). A rating is an opinion, not a promise: A.M. Best says it is not a recommendation to buy, hold or end a policy (A.M. Best). We have found no statement on whether the rating will change after completion.

For the year to June 2025 the notice reports insurance revenue of NZ$459 million and profit before tax of NZ$24 million. The point for a policyholder is simple. A shareholder, even a Crown entity, owns shares. It does not pay claims. The licensed insurer does, from the premiums and capital it holds, under the terms in your policy wording.

If you hold a Fidelity Life policy, nothing in the notice changes your wording. Keep your documents, do not cancel cover because of the news, and ask your adviser if anything arrives from the company. The same goes for former Westpac customers: Fidelity Life bought Westpac Life-NZ on 28 February 2022, and Fidelity has underwritten Westpac life products since 30 June 2023 on unchanged terms (Fidelity Life: Westpac).

How does this compare with Momentum Life's ownership?

Fidelity Life Momentum Life
Licensed insurer Fidelity Life Assurance Company Limited Momentum Life Limited (FSP472286)
Owner today Guardians 49.62%, Ngāi Tahu Investments 24.93%, others DCG Invest Limited, 100%
Change Sale to Partners Group Holdings agreed, closing March to July 2027 DCG purchase closed July 2025 (A.M. Best)
A.M. Best rating A- (Excellent) B (Fair)
How you buy Through advisers Direct and through advisers and partners

Momentum's own table groups B and below as "Vulnerable", and its solvency ratio was 107% at 30 June 2026, a margin of about $0.6 million; see Momentum's financial strength page. The two companies were once linked. Momentum says policies bought before 14 March 2018 are insured by Fidelity Life, not Momentum (Momentum FAQs). Read more on our Momentum ownership page.

Ownership is only one input. The products differ more than the shareholders do. Fidelity Life's life cover has an entry age of 16 to 75, with no expiry age, and is arranged through advisers (Fidelity Life). Momentum's Quick Life, issued by Momentum Life Limited, accepts ages 18 to 65 with no health questions but excludes pre-existing conditions and suicide for the first 2 years; its Funeral Insurance, ages 40 to 75, pays only for accidental death in the first 24 months. See guaranteed acceptance versus full medical underwriting. The buttons on this page go to Momentum Life's own application.

Where to check ownership yourself

Advice is provided by Craig Smith Business Services Limited, trading as Smiths Insurance & KiwiSaver, a licensed Financial Advice Provider (FSP712931). QuoteHub is a Momentum Life partner, and Smiths Insurance & KiwiSaver may receive a commission on Momentum products; see how we are paid. Our full Fidelity Life review covers cover, claims and who it suits.

Frequently asked questions

Is Fidelity Life owned by the NZ Super Fund?

Partly. The Guardians of New Zealand Superannuation, which manage the NZ Super Fund, hold 49.62%, the largest stake, but not a majority.

Is Fidelity Life being sold?

Yes. Partners Group Holdings signed to buy 100% on 3 September 2026 for NZ$630 million. Closing is scheduled for March to July 2027, subject to regulatory approval.

Who owns Partners Life?

Partners Group Holdings is wholly owned through Daiichi Life International Holdings LLC by Daiichi Life Group, Inc., which bought it in November 2022 (Daiichi Life Group).

Does the sale change my Fidelity Life policy?

The notice describes a purchase of shares, so the insurer on your policy stays the same company. We found no announcement of changed terms. Read your wording and ask your adviser.

References

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