Download the full media release here.
7 April 2011 – AA Insurance moved swiftly to reassure customers, markets and the community of its financial capacity to meet all claims resulting from the Canterbury earthquake.
AA Insurance has no association or connection whatsoever with AMI Insurance.
“AA Insurance has the financial strength to take care of our customers’ claims,” says Chris Curtin, Chief Executive, AA Insurance. “The company has good, conservative reinsurance in place and a strong financial strength rating.”
AA Insurance is a joint venture between New Zealand Automobile Association and Australia’s Suncorp-Metway Limited, Australasia’s largest general insurance group and the fifth largest bank. Suncorp-Metway’s majority shareholding means AA Insurance has access to its parent’s deep resources, including significant reinsurance. AA Insurance received an A+ (Strong) Insurer Financial Strength Rating from Standard and Poor’s (Australia) Pty Ltd on 7 January 2011.
“I want to be very clear, market speculation about AMI’s position has no impact on AA Insurance’s operations or ability to pay claims,” says Chris. “Our message to our customers is this: We remain open for business as usual.”
AA Insurance is offering insurance policies to new customers across New Zealand, subject to some restrictions in Canterbury.
As well as dealing with customers’ earthquake claims, AA Insurance is offering the following insurance cover in Canterbury: