Grant Thornton appointed liquidators of Western Pacific

Press release

4 April, 2011

Grant Thornton appointed liquidators of Western Pacific

David Ruscoe and Simon Thorn, of Grant Thornton New Zealand Ltd, have been appointed liquidators of Queenstown-based insurance company, Western Pacific Insurance Limited.

The appointment was made on Friday after directors of Western Pacific became concerned about the solvency of their company.

David Ruscoe said they are checking that all insurance policies are in place and valid and that all reinsurance contracts are in order. ³We know people will be worried about their situation and so we¹re urgently working through these issues,² Mr Ruscoe said

³We are contacting policy holders through their brokers.²

The claims department remains operational and is still taking claims. Queries can be made by calling 0800 66 56 56.

³We¹re giving priority to claims relating to the Christchurch earthquake. We understand there are 78 claims for the September earthquake and 77 claims for the February one.²

Western Pacific is a New Zealand owned and operated insurance company. It was established in April 2005 and is principally a broker brand that offers a broad range of commercial, domestic and specialty products as well as programmes for affinity groups, underwriting agents and preferred brokers. It has about 7000 policy holders in New Zealand.

³Until we carry out our review and look at further options for the business, we are not in a position to make further comment,² David Ruscoe said.

- ends -

© Scoop Media