Insurance Australia Group Ltd said on Monday it had agreed to buy the insurance underwriting businesses of Wesfarmers Ltd, which includes the business trading under the Lumley Insurance brand in New Zealand.
Published 14 June 2011 Tower Ltd filed an application in the Wellington High Court yesterday seeking a declaration on the correct interpretation of the relevant provisions of the Earthquake Commission Act after the commission limited claims to a maximum amount in any policy year. Tower’s group managing director, Rob Flannagan, said when the company released […]
Published 10 June 2011 The liquidators of Queenstown-based Western Pacific Insurance Ltd have paid the company’s reinsurance premiums, giving hope for Christchurch policyholders affected by the September 2010 & February 2011 earthquakes. David Ruscoe & Simon Thorn (Grant Thornton NZ Ltd) were appointed liquidators of Western Pacific (Jeffrey McNally, Melbourne; & Graham Smolenski, Queenstown) on […]
Published 8 April 2011 The Government said yesterday it would provide a back-up financial support package for AMI Insurance Ltd to give policyholders certainty and to ensure an orderly rebuild of Christchurch in the aftermath of the 2 earthquakes. Finance Minister Bill English said the support package would be called on only as a last […]