The Fidelity Life business, founded in 1973 by Gordon and wife Shirley Watson, took a major turn in its history when the NZ Superannuation Fund paid $100 million fo a 41% stake late last year.
Nadine Tereora, who took over from chief executive Milton Jennings, who stepped down after 29 years with the company and 14 in the top role, said the new capital would enable it to move into the digital era.
The deal involved $75m in new shares valued at $115 a share and the purchase of $25m of existing shares, putting a total value on the company of $198-220.
A few weeks later, Fidelity Life was named life insurance company of the year at the annual insurance industry awards.
The judges praised the company for its focus on advancing the industry through adviser education and thought leadership, as well as using its voice to forge positive change through regulatory reform.
In March, it launched three new enhancements to its income protection products through a campaign called 3-2-1-Go! for financial advisers.
Fidelity Life has a distributor network of 2700 IFAs (independent financial advisers) strategic alliance partners and 300 staff in six offices.
Previous year calculations, based on a share price of $150, valued the Watson family beneficiaries, including five daughters and their respective families, at $120m, higher than the NZ Super Fund deal implies.