TITLE

News - New Zealand: Govt pledges US$398 mln help to AMI

PUB. DATE
May 2011
SOURCE
Asia Insurance Review;May2011, p52
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The article reports that a support package for AMI Insurance Ltd. of up to NZ500 million dollars has been announced by Finance Minister Bill English in New Zealand. The government has also appointed John Pritchard to the board of the company, who has more than 40 years of experience in the insurance industry. Industry observers have said that inadequate reinsurance cover and cut-throat prices are the reasons for AMI's troubles.
ACCESSION #
67503596

 

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