We’re becoming Acenda Life
In 2027, Resolution Life New Zealand Branch and Asteron Life will come together under one brand: Acenda Life. The change is subject to regulatory approval and will be carefully phased from 2027. Both Resolution Life and Asteron Life have supported New Zealanders for decades. As we become Acenda Life, our commitment to our customers, advisers and partners will continue, strengthened by our greater scale, deep experience and the long-term strength of our owner, Nippon Life. This will enable us to provide stronger, more consistent support and experiences for our customers, advisers and partners.
In the meantime, you can continue to work with us as you do today. There’s nothing you need to do right now, and your clients’ existing policies and cover remain unchanged.
If anything needs to change in the future, we’ll let you know with plenty of notice, so you know what to expect and how to support your clients.
Investment market performance Q2 2026
Investment markets shifted through the second quarter of 2026 (1 April–30 June), presenting both headwinds and opportunities for investors. In this article, we look at how markets performed during this period, as well as some of the key economic developments that drove the movements.
New Zealand
Share market: The Solactive New Zealand Top 50 Index saw a 5.6% increase in NZD terms over the quarter, outperforming Australia.10
The New Zealand market has a large portion of dividend-paying stocks, and these performed well. This is largely due to expectations that the Reserve Bank of New Zealand (RBNZ) wouldn't need to hike rates as much as anticipated during the remainder of 2026. It also benefited from investor optimism, as the New Zealand economy showed signs of improving.
Housing market: Nationally, the QV House Price Index showed a 0.3% increase in house prices from March to May.11
House prices are currently 0.2% lower than the same time in 2025, with the average national property value now NZ$912,190.12
Interest rates: After cutting the official cash rate by 0.75% during Q4 2025 to 2.25%, the RBNZ kept rates on hold throughout the first half of 2026.11 On 8 July 2026, it increased the rate to 2.5%.13
At the end of Q1 2026, the New Zealand economy had seen an annual increase of 1.6%.14 The inflation rate in Q1 2026 remained stubbornly high at 3.1%, with markets anticipating two more interest rate hikes in 2026.15
Australia
Share market: The Solactive Australia 200 Index, which represents Australia’s top 200 companies, was up 4.1% in AUD terms over the quarter, though this was below global stock markets.1
In part, this lagging indices was due to the Australian market not having much exposure to the AI boom.
Interest rates: Australia’s inflation rate rose to 4.1% in Q1 (up from 3.6% in Q4 2025)2, which was above the Reserve Bank of Australia’s (RBA) target range of 2-3%.3 Core inflation – which excludes volatile items like food and energy – increased from 3.4% to 3.5%.4
Following a rate hike in February, the RBA further increased the cash rate in March to 4.1%.5 It increased again in May – to 4.35% – with the rate kept on hold in June.6
These decisions reflected persistent inflationary pressures earlier in the year, increased uncertainty linked to the Middle East conflicts, and higher fuel prices.
Housing market: As measured by Cotality's Home Value Index (HVI), the Australian housing market decreased 1.2% in Q2 2026 (following a 1.9% increase in Q1).7 This was due to several factors:
- higher interest rates
- stretched affordability
- a shift to a more cautious sentiment among buyers, and
- tax changes that have reduced investor demand.
Australian dollar: The AUD continued to recover during the first half of Q1. Against elevated interest rate expectations and strong commodity prices, it peaked in mid-May at 72.6 cents to the USD.8
Following a collapse in oil prices and reduced expectations of further hikes, the USD strengthened in June. By the end of Q2, the rate fell to 69.2 US cents – just 0.2 above its starting rate of 69 US cents.9
United States
Share market: In USD terms, US stocks were up around 15% over the quarter, marking a strong recovery from a weak Q1. AI infrastructure spending accelerated, with AI-related companies seeing surging stock prices. Combined with strong corporate earnings and easing geopolitical tensions, this led to one of the strongest quarters for US stocks in over five years.
Interest rates: During Q2 2026, the Federal Reserve kept interest rates unchanged at a target of 3.50%-3.75%.16 This is in line with the Reserve’s goals of achieving maximum employment and price stability.
The Personal Consumption Expenditures (PCE) inflation rate stood 4.1% at the end of May 202617, while core inflation was at 2.9%.18
A review of Q2 2026
After negative returns in Q1, financial markets saw positive returns in Q2. Concerns around war and inflation receded, and investors returned to focusing on AI-driven earnings growth and the infrastructure behind it, leading to a very strong quarter for global stocks.
Bond returns had a much more muted quarter. Stronger economic growth led to expectations of higher interest rates, dragging down returns.
We continue to monitor the major drivers of markets and their impact on Resolution Life portfolios. While investing always involves uncertainty, the current environment is particularly difficult to predict. For well-performing portfolios, the best form of defence is diversification, with exposure to a range of asset classes that can help during volatile times.
Sources:
1. Solactive Australia 200 Index Performance
2,3,4,5,6. Reserve Bank of Australia Monetary Policy
7. Australian House Prices – Cotality Home Value Index
8, 9. FactSet
10. Solactive New Zealand Top 50 Index Performance
11, 12. NZ house Prices – QV House Price Index
13, 14, 15. Reserve Bank of New Zealand Official Cash Rate
16. Bloomberg Federal Reserve, Bureau of Economic Analysis (BEA), U.S. Bureau of Labor Statistics
17. US Bureau of Economic Analysis (BEA), Personal Consumption Expenditures Price Index
18. Bureau of Labour Statistics Data.
It sounds like your client… but is it?
AI voice cloning is changing what we can trust on the phone.
With only a short sample of audio from a voicemail, social media video, webinar, podcast, or other recording, AI tools can create a convincing imitation of someone’s voice.
For financial advisers, this creates an important new risk: a caller may sound exactly like your client, without actually being your client.
What might a voice-cloning scam look like?
The technology may be new, but the social engineering techniques are familiar.
A caller who sounds like a genuine client may:
- Request an urgent withdrawal or transfer.
- Ask to change bank account or contact details.
- Request sensitive information or documents.
- Claim they are travelling, distressed, or unable to follow the normal process.
- Pressure you to act quickly or make an exception.
- Discourage you from contacting them through another channel.
The voice helps establish trust. Urgency and manipulation do the rest.
A familiar voice is no longer verification
Even if you’ve known a client for years, you shouldn’t treat recognising their voice as proof of identity.
For any sensitive, unusual, or high-risk request:
- Do not approve transactions or disclose sensitive information based solely on an inbound phone call.
- Be cautious if a client asks you to bypass normal processes.
- Independently call the client back using a trusted number already in your systems.
- Apply additional verification for unusual requests, particularly changes to payment details, withdrawals, or transfers.
- Escalate anything that does not feel consistent with the client’s normal behaviour.
Importantly, do not simply call back the number that contacted you, as caller ID can also be spoofed.
Consider the information they provide
AI-enabled scams can become particularly convincing when criminals combine a cloned voice with information gathered from social media, data breaches, or other sources. This could include personal details you might ask for, including their date of birth, home address, or other personal details.
They may know the client’s name, family members, adviser, employer, recent travel or other personal information. This means traditional cues such as “they sounded like them” or “they knew things only my client would know” are becoming less reliable.
Be AI aware
AI is making impersonation more convincing, but the defence remains straightforward:
Do not rely on whether something sounds real. Verify that it is real.
A few extra moments of independent verification could prevent a significant financial loss for your client and business.
Generate quotes instantly with the Cover Adjustment Tool
Did you know you can instantly generate a quote for your customers using our Cover Adjustment Tool? Available through the My Resolution Life portal, this tool gives you greater control and flexibility when managing your clients’ cover.
What you can do with the Cover Adjustment Tool
The Cover Adjustment Tool allows you to:
- Increase or decrease your clients’ sums insured – all in one place.
- Modify waiting and benefit periods with ease.
- Remove cover from your clients’ policies.
Important information about using the tool
- If your client has existing health or smoker loadings on their policy, a Health Assessment pop-up will appear. To review these loadings, you can chat with us via the My Resolution Life website or call us.
- Streamlined process. When reducing cover, we only require the updated quote to be submitted. No underwriting is required.
- Underwriting is required for all insurance increases and must be accompanied by a completed application form. We’ll then provide updates within 3–5 business days.
Supported products
- Risk Protection Plan
- Business Risk Protection Plan
- Income Protection Plan
- Quick Start
To help you make the most of the Cover Adjustment Tool, we’ve created a step-by-step user guide.
If you still have questions, please contact us.
Connect with Anna Elswood
Many of you will already know Anna Elswood, who joined Resolution Life in 2025 as our Strategic Partnerships Manager. Anna brings extensive relationship management experience and is passionate about supporting advisers and helping them grow their businesses.
As part of some recent changes within the business, Sarah Nichols has moved into a different role within the Acenda Life group. While Sarah remains with the organisation, Anna is now your primary contact for adviser relationship support in New Zealand.
Whether you have a question, need assistance, or would simply like to connect, Anna is always happy to help.
You can reach Anna at anna.elswood@resolutionlife.co.nz, or visit our adviser Resources page to access other helpful contact information.
Important information
The content of this website is for information only, it does not contain any financial advice or other professional advice or make any recommendations about a financial product or service being right for you. The information provided by Resolution Life Australasia Limited ABN 84 079 300 379, NZ Company No. 281363, AFSL No. 233671 (Resolution Life), is of a general nature and does not take into account your objectives, financial situation or needs. Before taking any action, you should always seek financial advice or other professional advice relevant to your objectives, financial situation and needs, as well as consider the policy document for the product. Any guarantee offered in the product is only provided by Resolution Life.
Resolution Life does not make any representation or warranty as to the accuracy, reliability or completeness of material on this website nor accepts any liability or responsibility for any acts or decisions based on such information.
Resolution Life can be contacted at resolutionlife.co.nz/contact-us or by calling 0800 808 267.
