TriMax Assurance Services

TriMax is a New Zealand company established jointly by Fidelity Life Assurance Company Limited (Fidelity) and Grosvenor Financial Services Group Limited (Grosvenor) to promote and administer an innovative range of life insurance and personal risk products.

How are TriMax products different?

TriMax products have been specially designed to provide extremely competitive premiums  and policy wordings at least equivalent to the most highly regarded in the industry.  Advisers have had significant input into the product design and policy wordings and

riMax is committed to an on-going process of continuous up-grade and improvement based on feedback from a Marketing Committee of supportive Advisers.

Legally the product is a Fidelity insurance policy. The product range incorporates a full  suite of personal risk policies including life assurance, total and permanent disablement  cover, trauma cover and disability income insurance.

The major innovation is that the various elements that make up the premium are split into predefined categories: mortality, underwriting, claims management, administration, marketing and distribution, commission and profit. Each partner will be responsible for the elements in which they specialise. Thus Fidelity (or their re-insurers) will receive the portion of premiums associated with mortality, underwriting and claims management while Grosvenor will receive those associated with administration, marketing and distribution.

Can you tell me a little more about Fidelity?

Fidelity is the largest wholly NZ owned life insurance company established in 1973. They were founded by an adviser who wanted a Company to care for widows, orphans and superannuitants and to listen to advisers at the coalface. Their key founding principles involves retaining NZ ownership and control and a commitment to superior advice while promoting trust and fairness in the activities that drive sustainable financial performance.

Highlights of the financial year to 30 June 2010 include:

• Total assets under management of nearly $530 million
• Annual premium of $80.7 million
• Record net profit after tax of $16.9 million
• A record $13.7 million of new premiums written