Skip Navigation
 

About AIG

With roots that trace back to 1919, we are a global insurance company with operations in more than 80 countries and jurisdictions. We provide a wide range of insurance products to support our clients in business and in life, including general property/casualty insurance, life insurance, retirement and financial services.

What unites us across all our products is our commitment to helping our clients prepare for what is next. Whether that is helping towns, cities and communities to prepare for or recover from natural disasters or supporting people and businesses through the challenges they face at home and abroad. Together, we are working to help see, build, and secure a better future for everyone.

In New Zealand we've been operating since 1970, offering the benefits of our global experience with local expertise. Our comprehensive range of corporate and commercial insurance and risk management products and services help New Zealand companies capture today’s opportunities and look to the future with confidence.

Careers

Working for AIG

Move your career forward by building a safer, stronger future for businesses, families, and communities, in New Zealand and around the world. Our employees are guided by the same values as the hugely successful teams that we sponsor: determination, strength, integrity, teamwork.

AIG offers 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.

Begin your journey now.

What’s it like to work at AIG? Learn more about our international
culture, our focus on social responsibility, and our commitment to our
communities.

AIG Insurance New Zealand Limited: Board Members

Jan Dawson

CNZM, B.Com, FCA (CAANZ), FIstD

Jan Dawson was appointed as a director of AIG Insurance New Zealand Limited on 1 July 2013. She is also chair of the Board Audit Committee and a member of the Board Risk Committee. Jan is Chair of Westpac New Zealand Ltd, Deputy Chair of Air New Zealand Limited and an independent director of Meridian Energy Limited. In addition, she is a member of the Council of the University of Auckland and a member of the Capital Investment Committee of the Ministry of Health. Jan is a Vice President and a Director of the World Sailing, the International Federation governing sailing globally. Jan has a strong audit and finance background. She was Chair and Chief Executive of KPMG New Zealand from 2006 to July 2011, having become a partner of the firm in 1986. During this period Jan also was a member of the Regional Board KPMG - Asia Pacific, a Board Member of KPMG Australia and Councillor of KPMG International.

Tony McHarg

 

Tony commenced as an executive director of AIG Insurance New Zealand Limited on 15 May 2019. He also acted as interim CEO of the company for about 8 months until the appointment of Toni Ferrier. Tony is an experienced insurance professional and long standing AIG employee. Tony is currently the Head of Multinational, International for AIG and Supervisor of AIG China’s Board of Directors. Tony has over 30 years’ experience working in a range of sales, distribution, servicing, management and leadership roles across Asia Pacific, Tony is a highly strategic, articulate and successful leader with a proven track record in developing, articulating and executing and agreed business strategies and plans across boundaries.

Peter Tynan

B.Com, ACA (CAANZ)

Peter was appointed as an independent director of AIG Insurance New Zealand Limited on 20 January 2020. Peter chairs the Board Risk Committee. He has a strong finance and management background and particular expertise in health insurance. He qualified as a chartered accountant. He is CEO of Foundation North, was recently Interim Chief Executive at the Royal College of General Practitioners, and prior to that, CEO at the Kaipara District Council based in Northland. He was Chief Executive at Southern Cross Health Society from 2012 to 2017 and has held a number of senior executive positions in various organisations, including American Express and the Mount Cook Group. He is a former Board member of the Health Funds NZ and the International Federation of Health Plans (IFHP) and has spent time on the Auckland Hockey Association Board. He is a member of the Institute of Directors.

Craig Stobo

BA (Hons) Economics, Advanced Management Programme,

Associate Member CFA Society NZ, CFInstD

Craig Stobo was appointed as a director of AIG Insurance New Zealand Limited on 1 December 2012 and is Chair of the Board. He is also a member of the Board Audit Committee and of the Board Risk Committee. Craig has worked as a diplomat, economist, investment banker and was CEO of BT Funds Management (NZ) Ltd. He has authored reports for the NZ Government on the Taxation of Investment Income (which led to the PIE tax regime for managed funds); and the creation of a funds domicile in NZ; and reports for Local Government NZ on Insurance and a Risk Agency for Local Authorities. He was Chair of the establishment board of the Local Government Funding Agency and following its incorporation in 2011 is currently Chair. He is also Chair of NZX-listed Precinct Properties, and private companies including Elevation Capital Management, Saturn Portfolio Management, Biomarine Group and Legend Terrace.

Toni Ferrier

LLB (Hons), CEO - AIG Insurance New Zealand Limited

 

Toni Ferrier is the CEO of AIG Insurance New Zealand Limited. Toni is also a Director of Fergus Trade Software Limited and a Chartered Member of the NZ Institute of Directors. Toni joined AIG with a 25-year career with extensive legal, governance and insurance experience. After working as a commercial litigation lawyer in New Zealand and the UK; Toni has held executive roles at Lumley Insurance (Wesfarmers) and Crombie Lockwood Brokers. Most recently Toni was a Director on the Board of Accuro Health Insurance and a Commissioner at the New Zealand Earthquake Commission; this has given her experience working with the Crown and with a business owned by its members. Toni has extensive experience in both the intermediated and bank insurance markets. She has lead teams across all critical insurance functions (sales, underwriting, claims, distribution, portfolio management) - including disaster response. Toni is well known for being a collaborative and effective leader with key strengths in developing and deploying strategy, leadership, delivering commercial outcomes, customer led organisational design and shifting organisational culture.

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.

The first New Zealand office opened in Wellington and officially began to write business on September 28, 1970, as managing agents for the American Home Assurance Co. A second office was opened in Auckland, not long 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).

Solvency Margin

As at 31 December 2019, our solvency as filed with the Reserve Bank of New Zealand is as follows:

  • minimum solvency capital: $35,910 million;
  • actual solvency capital: $122,066 million;
  • solvency margin: $86,157 million; and
  • solvency result: 340%.

By comparison, our solvency results filed with the Reserve Bank of New Zealand as at 31 December 2018 were as follows:

  • minimum solvency capital: $36,907 million;
  • actual solvency capital: $91,460 million;
  • solvency margin: $54,553 million; and
  • solvency result: 248%.

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:

AAA   Extremely Strong
AA Very Strong
A Strong
BBB Good
BB Marginal
B Weak
CCC Very Weak
CC Extremely Weak
SD Selective Default
D Default
R Regulatory Supervision
NR Not Rated
   

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.

Some of the biggest issues facing our world today, like climate change, require the active collaboration of the public sector, the private sector, academia and non-governmental organizations. AIG serves as a trusted advisor to many of these stakeholders around the world based on our technical expertise in analyzing risk. We have an important role to play in addressing these complex challenges.

No two risks are the same. Each risk is unique and different industries and businesses have different risk appetites.  The role of insurance in risk mitigation and underwriting is an opportunity to apply our technical expertise to help manage today’s risks while supporting solutions to pressing societal problems. No two investments are the same. Each investment opportunity presents unique risks and rewards that we carefully analyze. We take these responsibilities very seriously.

Given the complexity of these issues, AIG does not publicly comment on underwriting decisions related to specific projects or specific investments. We are committed to promoting economic growth and sustainable solutions that benefit society today and for future generations.

“From supporting low carbon renewable energy projects, to employing our risk management expertise to help address the impacts of climate change, to providing insurance to the underserved, we are engaged in a variety of sustainability efforts across our global footprint. We believe our continued commitment to sustainability will deliver long-term value to our company, our stakeholders, and to the global community at large."

- Jennifer Waldner, Chief Sustainability Officer

Click here to read more about AIG's stance on sustainability.

Latest News

AIG News and Media Releases

Find our latest press releases, links to company information, and information for media enquiries.

AIG Knowledge and Insights Centre

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 these exposures.