DGAP-News: Bancorp Wealth Management New Zealand Ltd.

DGAP-News: Bancorp Wealth Management New Zealand Limited: BANCORP ACQUIRES ANOTHER LEADING AVIATION INSURANCE SPECIALIST

DGAP-News: Bancorp Wealth Management New Zealand Limited / Key word(s): Acquisition Bancorp Wealth Management New Zealand Limited: BANCORP ACQUIRES ANOTHER LEADING AVIATION INSURANCE SPECIALIST

18.07.2016 / 11:25 The issuer is solely responsible for the content of this announcement.

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BANCORP ACQUIRES ANOTHER LEADING AVIATION INSURANCE SPECIALIST

Bancorp has acquired one of New Zealand's leading small aircraft insurance underwriting agencies. The business focuses on small aircraft and provides services to many insurance brokers throughout the country.

"The acquisition will add around $350,000 in earnings to Bancorp and we would expect to see continued growth in the years to come." Bancorp's Managing Direct, Craig Brownie said.

The business has a B2B focus dealing with other insurance brokers rather than the aircraft owner in most cases. It has been in operation for 20 years and is well known throughout the aviation insurance sector it operates in.

Craig Brownie said, "There will be no changes to staff or how the business interacts with customers." Although the business is an underwriting agency, Bancorp will not be taking any actual insurance risk on the aircraft.

The full financial impact of the business acquisition will flow through into the 2017 financial year and be EPS positive from day one.

Mr. Brownie reiterated, "We continue to look for the right acquisitions that we can add value to and that will increase the EPS of the Bancorp group."

For further information go to: www.bancorp.co.nz

About Bancorp The Entry Standard listed Bancorp Wealth Management New Zealand Limited (ISIN: NZBWME0001S2) is active in two divisions, Asset Management and Private Banking. The Group's main strategic focus in asset management is in Aviation. It holds equity investments in the field of insurance brokerage, aviation financing and aviation-related companies.

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18.07.2016 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement.

The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de

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483237 18.07.2016