The automatic inclusion of CBL would force Tegel Group Holdings out.
Forsyth Barr also picked Sky Network TV would drop out of the NZX10 index to make way for Trade Me Group to enter.The announcements would be made on June 9 and come into effect on June 16, he said.
Earlier this year, CBL Corporation entered into a conditional agreement to acquire an insurance shell in the US for $US5.7 millon ($NZ8.1 million).
"This will provide access to a new market for the company’s current product range.
"The target, Affirmative Direct Insurance, has current insurance licences in 14 US states but no existing insurance business, meaning CBL is essentially buying an insurance shell with about $US5 million cash and regulatory capital.
"This appears to be an attractively priced option play through which CBL can leverage its current Mexican product set across the border into Texas, and also open up access into the world’s largest insurance market."
Liquidity had fallen in Vista Group and it was now below the level for index constituents. Should Vista fail the liquidity threshold again at the September quarterly review, it would be removed from the NZX50, Mr Foster said.
● Coats Group, the United Kingdom based threadmaker that grew out of diversified investor Guinness Peat Group, would enter the FTSE 250 as of June 19, it said in a statement.
The latest quarterly review by FTSE Russell, the global index provider, confirmed Coats Group had met the requisite criteria and the move also came after Coats’ market capitalisation reached more than £1 billion ($NZ1.8 billion) last week, it said.
The London-based company said it had undergone "significant corporate change" in recent years to reach the strategic objective of entering the FTSE 250.
Among other things, it delisted from the ASX and NZX in June 2016, which helped concentrate trading volumes on the UK market and supported its repositioning as a UK-headquartered, global industrial manufacturing business, it said.
Other steps included the appointment of Rajiv Sharma as group chief executive and Simon Boddie as chief financial officer as well as the completion of three acquisitions.
