And, related to that, it isn't to say NZR didn't have to stump up a fair bit of cash in order to keep Smith. The 30-year-old is an important leader within the All Blacks and there is still a gulf between him and the rest in terms of No9s. TJ Perenara is a talented player, no doubt, but he is better suited to a bench role and Te Toiroa Tahuriorangi, the next on the pecking order, has a fair bit of developing to do yet.
NZR couldn't afford to lose Smith, a player who seems to thrive in a settled and secure environment, and the feeling was mutual. His is a reassuring signing as the All Blacks look ahead to big changes after this year, most obviously the absence of head coach Steve Hansen.
"I love representing the Highlanders and the All Blacks and playing my rugby in New Zealand gives me the chance to continue to do that," Smith said.
"I'm grateful to NZ Rugby and the Highlanders organisation for all the support they've given me over my career and for the opportunities they have provided for myself and Teagan."
New Zealand Rugby has just about all of their established All Blacks on extended contracts; Dane Coles, Codie Taylor, Joe Moody, Ofa Tuungafasi, Scott Barrett, Sam Cane, Ardie Savea, TJ Perenara, Anton Lienert-Brown, Damian McKenzie and Rieko Ioane.
Three notable players have yet to re-commit: Beauden Barrett, the two-time World Rugby player of the year, Brodie Retallick, also a former World Rugby player of the year, and Sam Whitelock, the probable next All Blacks captain. To say they are in strong bargaining positions would be like saying Aaron Smith isn't a bad passer of a rugby ball.