TACKLE THE FUTURE WITH CONFIDENCE
We’re the world’s largest insurance organisation, with more than 88 million customers around the globe. Every day, over 64,000 people in more than 100 countries come together to take on the world’s new challenges. We’re people who believe that with the right values and hard work, anything is possible. Together, we’re working to help see, build, and secure a better future for everyone.
Operating in New Zealand since 1970, we offer a comprehensive range of corporate and commercial insurance and risk management products and services, helping New Zealand companies capture today’s opportunities and look to the future with confidence.
At AIG, our job is to help businesses, families, and individuals protect the things that they value the most, both in New Zealand and around the world. In doing so, we are guided by the same values as the hugely successful teams that we sponsor: determination, strength, integrity, teamwork.
AIG offers you world-class opportunities in a broad range of disciplines. From underwriters, claims examiners and engineers, through to professionals in the finance, legal, IT, and communications fields. When you work for AIG, you’ll receive the training, leadership and support you need to take you where you want to go. And with offices around the world, a career at AIG could take you just about anywhere.
If you want to join our team and be a part of a leading global organisation, begin your journey now.
AIG traces its roots to 1919, when American Cornelius Vander Starr established a general insurance agency, American Asiatic Underwriters, in Shanghai, China. Since then, an enterprising spirit, ingenuity, and tenacity have built the company into one of the world’s leading insurers, with offices in over 100 countries. The first New Zealand office opened in Wellington on 11 November 1970, with the Auckland office opening shortly after.
Today, AIG is focused on what it has been known for since the beginning: the willingness and ability to provide insurance coverage to meet the diverse needs of its clients.
AIG Insurance New Zealand Limited (Company) is a wholly owned subsidiary of American International Group, Inc. (AIG), headquartered in New York.
One of the largest insurance companies in the world, the AIG group has operated in the general insurance business in New Zealand since 1970. Until 2011 the business was a branch of a member of the AIG group based in the USA. On 1 December 2011 the branch business was transferred to the Company and the Company became the first licensed insurer under the Insurance (Prudential Supervision) Act 2010 (IPSA). With the issue of the licence the Company became subject to the IPSA regulatory regime administered by the Reserve Bank of New Zealand (RBNZ).
As at 31 December, our solvency as filed with the Reserve Bank of New Zealand is as follows:
• minimum solvency capital: $34.297 million;
• actual solvency capital: $98.044 million;
• solvency margin: $63.757 million; and
• solvency result: 286%.
By comparison, our solvency results filed with the Reserve Bank of New Zealand as at 31 December 2016 were as follows:
• minimum solvency capital: $34.706 million;
• actual solvency capital: $100.594 million;
• solvency margin: $65.88 million; and
• solvency result: 290%.
Financial Strength Rating
The Insurance (Prudential Supervision) Act 2010 requires licensed insurers to have a current financial strength rating that is given by an approved rating agency. AIG Insurance New Zealand Limited has an A (Strong) insurer financial strength rating given by Standard & Poor’s (Australia) Pty Ltd. The rating scale, in summary form is:
The rating from 'AA' to 'CCC' may be modified by the addition of a plus (+) or minus (-) sign to show relative standing within the major rating categories. A full description of the rating scale is available on Standard & Poor’s website.
AIG New Zealand is a member of the world-wide AIG group of companies and is obliged to ensure that all third parties with whom we have an arrangement will abide by the AIG Third Party Code of Conduct. Third Parties are required to familiarise themselves with this code.
The world is changing rapidly, and AIG is changing with it. As one of the world's leading insurers, AIG is focused on delivering world-class products and services tailored to the realities of today's fast changing environment.
Explore our Global Knowledge and Insights Centre to find out more about some key risk issues and trends happening around the world and how you can manage this exposure.