nib holdings Ltd (ASX:NHF) has announced its New Zealand subsidiary, nib nz holdings ltd (nib NZ) has agreed to purchase 100% of the shares in Kiwi Insurance for a total consideration of approximately $43 million, subject to the receipt of regulatory approvals with a target completion date of early 2022. nib holdings said the acquisition was aligned with nib?s ?personalisation? strategy and will allow NZ customers to have greater access to a more comprehensive suite of products.
Following the announcement, nib shares fell 0.41% to $7.27/share.