Westpac NZ is forming a new partnership with Tower after a comprehensive evaluation of its general insurance operations.
Starting 1 July 2026, Tower will take over from IAG as the underwriter for Westpac’s house, contents, car, and vehicle insurance products.
“We’re pleased to be partnering with an innovative locally owned and operated general insurer with a strong customer focus,” Westpac NZ Managing Director of Product, Sustainability and Marketing, Sarah Hearn said.
“For many of our customers, a home and their valuable possessions will be the most important things they ever own, and they understandably want peace of mind that they’ll be well looked after should anything go wrong.”
“That’s a responsibility we take incredibly seriously.”
“Tower have been helping New Zealanders for more than 150 years and have been named Insurer of the Year at the Canstar Home and Contents Awards for the last two years running.”
“They’ve impressed us with their great digital offering and competitive pricing, and we’re confident our customers will be impressed too,” Hearn added.
“Among the new functionality, our customers will be able to view data-driven personalised insurance insights through Westpac digital banking.”
“Tower is a leader in using advanced data and analytics to assess the risks of individual properties being impacted by climate-related events. We’re keen to work with them on advocating for national adaptation frameworks and more transparency around natural hazard risk data.”
Hearn expressed gratitude to IAG for their long-standing partnership with Westpac in general insurance.
Current Westpac insurance customers do not need to take any action, as their existing insurance policies will remain in effect.