Westpac NZ is entering a new partnership with Tower, following a thorough review of its general insurance business.
From 1 July 2026, Tower will replace IAG as Westpac's underwriter for 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," says Westpac NZ Managing Director of Product, Sustainability and Marketing, Sarah Hearn.
"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.
"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.
"We look forward to sharing more about the new partnership from July next year."
Existing Westpac insurance customers don't need to take any action as their current insurance agreements will continue.
Ms Hearn thanked IAG for their longstanding general insurance partnership with Westpac.
