DPL Insurance Limited

Overview

DPL Insurance Limited is a 100% owned subsidiary of Dorchester Pacific Limited (DPC) an NZX listed Company (DPC.NZ). DPC is a financial services company who operates a group of businesses offering financial and insurance products and services to retail and SME customers in New Zealand.

DPL Insurance underwrites a range of life and non-life consumer insurance products which are easy to transact and provide pre-determined levels of cover aimed at meeting the requirements of a broad cross section of middle New Zealand.

 

Board of Directors

It has an independent Board made up of both Independent and Non Independent Directors with relevant experience across insurance, finance and general business skills. The Board members of DPL Insurance are:

 

 

Antony Vrines sml.jpg 

Antony Vriens - Chairman

Anthony Vriens is a highly experienced and commercial senior financial services professional with demonstrated success as a General Manager in insurance wealth business within Australia and New Zealand and is currently on the board of the Insurance and Savings Ombudsman. 

John Gosney Sept 2010.JPG

 

Mr John Gosney

John Gosney is a company director and business consultant with extensive management experience and a background in finance and investment with Goldman Sachs and J P Morgan.  John has consulted to a number of both private and public companies and holds a B.Com and M.B.A from the University of Otago. 

Kevin Brewer sml.jpg 

Mr Kevin Brewer

Kevin Brewer is a charted accountant with extensive experience in management consulting and investment banking. Kevin currently runs a private consulting practice and has worked with Sky City Entertainment Group, Wendy's, Northington Partners, Bancorp and KPMG, both in New Zealand and overseas. 

 
Stephen Sinclair Sept 2010.JPG

Mr Greg Peebles

Greg Peebles has had a career of over 35 years with Westpac rising to Chief Credit Officer for New Zealand. Greg, representing Westpac, was a director of TV3 for six years and holds a number of directorships in private companies and trusts including the Hospice South Auckland Charitable Trust.

 


Leadership Team

James-Searle.gif

Mr James Searle

James Searle, General Manager of DPL Insurance Limited is responsible for strategic direction and operational performance of the company. James has over 25 years' experience in the insurance industry having worked across a range of functions, and in leadership roles including companies such as IAG and Lumley.

 


Tate-for-website.gif Ms Tate Chiunda 

Tate Chiunda, Group Compliance Manager is responsible for developing an effective compliance risk management and managing regulatory change programmes for the Dorchester group. Her experience has been gained across a wide range of industries having worked with companies such as IAG, Fonterra, Lumley and Heartland Bank. Tate is a member of the New Zealand Institute of Chartered  Accountants and a Senior Associate of the Australian and New Zealand Institute of Insurance and Finance.

 

 

Distribution

DPL Insurance principally distributes our insurance products through a number of customer facing brands as well as providing products and services on a white label basis to distribution partners. Our distribution brands are:

DPL-Distribution-tree v2.gif

 

Mainstream Insurance

Mainstream Insurance is a business brand of DPL Insurance Limited which provides consumer insurance products and service solutions to the motor industry, intermediated finance and insurance market. Our key areas of focus are:

  • Being customer focused and building and developing innovative insurance products.
  • Offering a range of products, PMV (Private Motor Vehicle Insurance), MBI (Mechanical Breakdown Insurance), LRI (Loan Repayment Insurance) and GAP (Guaranteed Asset Protection Insurance).
  • Providing web-based transaction systems for effective distribution and sale of insurance products.

 

 

Dorchester Life

Dorchester Life is a business brand of DPL Insurance Limited which provides a range of consumer focused life insurance products and service solutions. Distribution of these products is through a small number of employed agents and the intermediated insurance broker market within New Zealand. Our key areas of focus are:

  • Easy to transact, simple life insurance products providing limited defined cover focused on consumer customers.
  • Products are focused on the 'simple' requirements of customers which are easy to understand and provide adequate cover at an entry level.
  • Offer a range of products, EasyLife - Life Insurance, Funeral Plan, PAD (Personal Accidental Death), Group Life and StopGap (Redundancy and Life Insurance).

 

 

Regulation

DPL Insurance Limited is regulated by the Reserve Bank of New Zealand and holds a Full Insurance licence for Life and Non-life products, in accordance with the Insurance (Prudential Supervision) Act 2010. Our Full Insurance licence was issued on the 22nd August 2013.

 

Financial Strength Rating

The Insurance (Prudential Supervision) Act 2010 requires all licensed insurers to have a current Financial Strength Rating, given by an approved rating entity. DPL Insurance Limited has been issued a Financial Strength Rating of B+ (Good) and an Issuer Credit Rating of bbb- (Good), with the outlook assigned to both ratings as 'Stable' by A.M. Best. The rating was issued by A.M. Best on the 2nd July 2014.

The A.M. Best company rating scale is:

 AM-Best-Rating-Table.gif
  Issuer-Credit-Rating-Table.gif 


Solvency Margin

DPL Insurance is required to meet the solvency standard for a life insurance business as required under the Insurance (Prudential Supervision) Act 2010. DPL Insurance solvency margin as at 31 March 2014 was:

DPL-Solvency-Calculation-Mar2014.gif

Financial Statement

Please find below the financial statements for DPL Insurance for the year ended 31 March 2014:

DPL Financial Statements Mar2014

 


 

 
 
Freephone for general enquiries: 0800 733 008  |  Email: info@dorchester.co.nz  |  Fax: (09) 302 1829
© 2013 www.dorchester.co.nz  |  Website Design by Labyrinth Solutions  |  Content Management by Contegro