IAG

Timeline

October 2025

Insurance company IAG New Zealand Limited has admitted to fair dealing breaches and the Court has imposed a final pecuniary penalty of $19,500,000.

Following an investigation by the Financial Markets Authority (FMA) – Te Mana Tātai Hokohoko - IAG has admitted making false and/or misleading representations in relation to its insurance products.  

• Media release: IAG to make pecuniary penalty payment of $19.5 million for widespread failures

April 2025

IAG self-reported the issues following the FMA’s Conduct and Culture reviews of banks, life insurers, and fire and general insurers.

• Media release: FMA files civil proceedings against IAG for fair dealing breaches