News

Government prepared to bail out AMI

Thursday 7th of April 2011

The Government is prepared to pump up to $500 million of equity into AMI Insurance after it reportedly had $1 billion of capital and reinsurance cover wiped out by the two Canterbury earthquakes.

The support package would be called on only as a last resort of AMI's own reserves have been exhausted - unless the Crown believes it is in the public interest to take control sooner, Finance M...

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