IAG dominant in vehicle insurance

Media Release 02 March 2012
IAG dominant in vehicle insurance

The Motor Trade Association (MTA) said today the recent announcement that Australian insurer IAG NZ will acquire AMI Insurance will give IAG the biggest market share in the motor vehicle insurance market in New Zealand.

Advocacy and Training General Manager Dougal Morrison congratulated IAG NZ on the acquisition and said that MTA is looking forward to continuing to develop a strong relationship with IAG NZ, just as they have with AMI.

“A lot of work has taken place over a number of years to ensure that the collision repair sector and insurance companies maintain positive relationships thus ensuring the best service and outcomes for customers.”

“With IAG NZ acquiring such a large percentage (61 percent) of the motor vehicle policy market, we trust that they will act fairly and responsibly with collision repairers, while also considering the best interests of customers,” says Morrison.

MTA also adds that over the past few years, the size of the New Zealand collision repair sector has declined as more and more panel shops close as margins are squeezed. This has resulted in trained staff moving into other forms of employment or moving overseas to achieve higher wages.

“We are looking forward to working together with insurance companies to ensure that all repairs are carried out to manufacturer specifications and to high standards so that customers get the best possible service.”

ENDS

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