IAG New Zealand Limited (IAG NZ) is New Zealand's largest general insurer. We are part of Insurance Australia Group (IAG), which is headquartered in Sydney and is Australasia's largest general insurance group.
IAG has a portfolio of general insurance businesses. It has leading and established brands across its home markets of Australia and New Zealand, a growing presence in Asia, and other specialist underwriting operations.
IAG underwrites around $8 billion of insurance premiums each year. The Group employs around 13,000 people.
In New Zealand, we offer the majority of our products under the State and NZI brands. State offers insurance cover for predominantly personal assets such as home and vehicle with policies sold directly to the public either via our 0800 number or at our sales centres around the country. NZI specialises in providing business, rural and personal insurance through brokers.
On 16 December 2011, IAG announced that it had entered into an agreement to purchase the AMI insurance business. The transaction remains subject to regulatory approvals and is expected to be completed in February 2012.
We also wholly own the following trading brands:
Mike Henry Travel Insurance which provides travel insurance primarily sold to people online for international and domestic travel.
NAC Insurance which specialises in high-risk motor vehicle insurance.
Swann Insurance (NZ) which provides warranty and consumer credit insurance
DriveRight which provides mechanical breakdown insurance via motor vehicle dealers.
Lantern which provides a means for NZI products to be sold directly to the public.
In addition, we underwrite insurance for some of New Zealand's leading financial institutions including ASB, BNZ, PSIS, AMI, Westpac and Warehouse Travel.
IAG in New Zealand has about 33% of the general insurance market in New Zealand. We have more than 2,100 employees in our network of nationwide call centres, 29 sales centres and eight branches. Telephone centres are located in Auckland, Hamilton, Wellington and Christchurch, with the national head office in Auckland.
We also have shareholdings in:
First Rescue and Emergency (NZ) (50% owned), which manages State Roadside Rescue, our vehicle breakdown service.
Loyalty New Zealand (25% owned), which manages the Fly Buys loyalty programme.
Awards and commendations:
NZI, winner Insurer of the Year 2007, 2008 and 2011 Insurance Brokers Association of New Zealand.
Winner General Insurance Company of the Year 2005, Australian and New Zealand Institute of Finance.
NZI, winner Underwriter of the Year 2005, Insurance Brokers Association of New Zealand.
The Association of Chartered Certified Accountants (ACCA) Australia and New Zealand Awards for Sustainability Reporting 2005 – Commendation for Achievements in Sustainability Reporting.
IAG Group announced on the Davos Global 100 list of the world's most sustainable organisations.