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nib purchases New Zealand travel insurance provider OrbitProtect

Insurance Asia logo Insurance Asia 21/11/2022 Staff Reporter
© Provided by Insurance Asia

OrbitProtect was first established in 2005.

New Zealand healthcare insurer nib is acquiring a 100% stake in OrbitProtect.

OrbitProtect helps provide insurance cover for international students and workers, and inbound travellers visiting New Zealand. The company was first established in 2005. It has strong relationships with Recognised Seasonal Employers (RSEs), schools, private training colleges, insurance brokers and education and travel agents in New Zealand and offshore, to distribute insurance products.

According to nib New Zealand CEO Rob Hennin, the acquisition comes on the back of a forecasted growth of inbound workers and international students aiming to study in New Zealand.

“We see the end of COVID-19 and the lockdowns that resulted from the global pandemic as a time for high growth for inbound travellers, students and workers. Students choose to study here because our universities have a strong global reputation. There were more than 34,000 international students enrolled in New Zealand universities, 43% in postgraduate study, before the pandemic, and numbers are expected to rebound,” Hennin said.

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