Dormfin Insights: New Zealand 2023 Election on the Insurance Sector

As New Zealand gears up for its imminent election, stakeholders across various sectors are keenly observing potential shifts and developments that might arise from the event. The insurance sector, a linchpin in New Zealand’s economy, is no exception. At Dormfin, we believe in staying ahead of the curve, understanding potential changes, and preparing for them. Here, we explore the possible ramifications the upcoming election could have on the insurance industry.

1. Policy Changes and Regulations:

Every election brings with it the possibility of new policies or tweaks to existing ones. Historically, insurance regulations, subsidies, and industry support have seen modifications based on the leading party’s agenda. This could impact everything from life insurance premiums to the way trauma and disability insurances are processed and disbursed.

2. Economic Stability and Consumer Confidence:

The general economic climate post-election can significantly affect the insurance sector. If the elected government instils confidence, we might see an uptick in people investing in insurance products, especially life insurance and mortgage protection, given the reassurance in market stability.

3. Health Care and Private Medical Insurance:

The state of public healthcare often determines the demand for private medical insurance. Depending on the election’s outcome, if there are any proposed changes to public healthcare funding or policies, this could have a direct impact on the private medical insurance demand and structure.

4. Housing and Mortgage Protection Insurance:

Auckland, and New Zealand at large, has a dynamic housing market. Any election-induced policy changes related to housing loans, interest rates, or property taxes can indirectly influence the demand for mortgage protection insurance.

5. Focus on Minority Communities:

With a significant population of South Africans and other expatriates in New Zealand, policies catering to the needs and concerns of minority communities can influence the specifics of various insurance products. Tailored solutions addressing the unique challenges faced by these communities might emerge post-election.

6. Climate Policies and Insurance:

With global warming and environmental changes, many nations, including New Zealand, are focusing on green policies. If the elected party prioritizes environmental concerns, we might witness a surge in related insurance products, covering climate-induced damages or renewable energy project insurances.

Navigating the Future with Dormfin:

Elections are a pivotal event in any country’s timeline, shaping the future in various tangible and intangible ways. While it’s crucial to understand potential outcomes and shifts, it’s equally important not to be swayed by every wind of change.

At Dormfin, we stand committed to guiding our clients through these times of change. Our dedicated team continuously evaluates the market, ensuring our clients receive the best advice, irrespective of political climates. While we prepare for potential impacts, our primary focus remains on providing unmatched service and insurance solutions tailored to individual needs.



In conclusion, while the upcoming New Zealand election may bring about changes, with the right guidance and perspective, we can turn challenges into opportunities. Stay informed, stay prepared, and trust Dormfin to be your steadfast partner in navigating the ever-evolving insurance landscape.