NZI or New Zealand Insurance is a major insurance company in

New Zealand New Zealand ( mi, Aotearoa ) is an island country in the southwestern Pacific Ocean. It consists of two main landmasses—the North Island () and the South Island ()—and over 700 smaller islands. It is the sixth-largest island count ...

. NZI was formed in

Auckland Auckland (pronounced ) ( mi, Tāmaki Makaurau) is a large metropolitan city in the North Island of New Zealand. The most populous urban area in the country and the fifth largest city in Oceania, Auckland has an urban population of about ...

by 1859 as the New Zealand Insurance Company and is one of New Zealand's largest and longest-serving fire and

general insurance General insurance or non-life insurance policy, including automobile and homeowners policies, provide payments depending on the loss from a particular financial event. General insurance is typically defined as any insurance that is not determine ...

brands. In a nation where almost every building was wooden NZI expanded quickly. ;Timeline * 1861 opened Wellington and London offices * 1860s established a New Zealand wide network then a similar network in Australia * 1870s offices in the United States * 1880s agencies in Asian countries ** 1881 insured first shipment of frozen meat to London ** 1886 Argentina offices * 1890s South Africa * 1906 San Francisco earthquake, one of few insurers able to pay all claims in full * 1912 an underwriter of the ''Titanic'' NZI merged with South British Insurance in 1981; the two companies had been equally matched rivals and were virtually the same size, but with different emphasis on the types of business they held. The new company formed a parent, New Zealand South British Group Ltd, which maintained both brands concurrently before changing to the NZI Corporation in 1984 when the South British brand was phased out.

General Accident General Accident plc was a large insurance business based in Perth, Scotland. It merged with Commercial Union in 1998 to form CGU plc. History The Norie-Miller years The Employers' liability act of 1880 opened a new area of insurance and one ...

bought NZI in 1989. In January 2003,

Insurance Australia Group Insurance Australia Group Limited (IAG) is a multinational insurance company. It is the largest general insurance company in Australia, and also the largest in New Zealand through its subsidiary IAG New Zealand. IAG had its origins in the Nati ...

acquired NZI when purchasing the general insurance business of Aviva, a successor of General Accident. NZI is now a subsidiary of IAG New Zealand. NZI focuses on providing products to the intermediated market, i.e. brokers and banks. It was the title sponsor of the

Wellington Sevens The New Zealand Sevens is an annual rugby sevens tournament currently held at Waikato Stadium in Hamilton, New Zealand. For the first eighteen years of its history the event was held in Wellington. The event is the third on the World Rugby Seve ...

event in the IRB Sevens World Series for international

rugby Rugby may refer to: Sport * Rugby football in many forms: ** Rugby league: 13 players per side *** Masters Rugby League *** Mod league *** Rugby league nines *** Rugby league sevens *** Touch (sport) *** Wheelchair rugby league ** Rugby union: 1 ...

sevens teams and TVNZ business programme

NZI Business ''AMP Business'' was an early morning business program hosted by Nadine Chalmers-Ross airing on TV One in New Zealand. The show was followed by ''Breakfast''. From 1997 to 2007 the programme was hosted and co-produced by Michael Wilson. During ...

References

External links

Company website
Insurance companies of New Zealand Companies based in Auckland Financial services companies established in 1859 New Zealand companies established in 1859 1981 mergers and acquisitions 2003 mergers and acquisitions {{insurance-company-stub